Over 13,630 industries commence ops; get Rs 1.07 lakh cr investment

Hyderabad: About 13,630 industries out of the 17,920 industries have got the clearances under the State’s industrial policy TS-iPass have commenced their activities. They have provided employment to 8.17 lakh people and have brought in an investment of Rs.1.07 lakh crores. Another 4,982 industries are going to commence their operations shortly, said Finance Minister T […]

Hyderabad: About 13,630 industries out of the 17,920 industries have got the clearances under the State’s industrial policy TS-iPass have commenced their activities. They have provided employment to 8.17 lakh people and have brought in an investment of Rs.1.07 lakh crores. Another 4,982 industries are going to commence their operations shortly, said Finance Minister T Harish Rao.

The State is a frontrunner in attracting investments from within the country and outside also. The brand image of Hyderabad has improved after the formation of Telangana State. There is a steady flow of investments into the State due to good and stable governance and an excellent law and order situation, he said. The Budget has provided Rs 2,519 crore as incentives to industries.

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The Government has announced Telangana electric vehicles policy recently. Already investments worth Rs.10,000 crores have come to the State. It is expected that these investments would result in the creation of about 29,000 jobs, he said.

As per the AP Reorganisation Act, tax incentives were to be given to attract new industries. However, no significant incentives were given. Bayyaram steel factory, Kazipet coach factory, improving the rail connectivity in the State are some of the issues which are still pending. An amount of Rs. 500 crore which is due as the Centre’s share towards Zaheerabad NIMZ is yet to be released, he said.

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