Wednesday, December 1, 2021
NewsTelangana complements Taiwan strengths in electronics

Telangana complements Taiwan strengths in electronics

Published: 30th Sep 2021 5:42 pm

Hyderabad: IT and Industries Minister K T Rama Rao on Thursday said Telangana was giving a major push to electronics, electric vehicles and energy storage solutions. “The State will take steps to fortify trade relations between Telangana and Taiwan and will welcome electronics players from the country with open arms to set up or expand their operations in the State,” he said.

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Participating in ‘Taiwan Connect-Telangana State’ virtual conference organised under the aegis of Invest India, the Minister said that several Taiwan companies were already operating in Hyderabad and efforts will be made to further strengthen the trade relations.

Stating that Covid impacted the development and economies world over since 2020, the Minister said the situation, however, was improving and the economic development and investments were coming back to earlier levels. Riding on the back of this development, Telangana will up its efforts to attract investments in IT and ITeS sectors, which have been doing well in the State, he said. In addition, it was also giving a thrust to research and development and to electronics manufacturing particularly electric vehicles and energy storage solutions, he said.

“Telangana is making good progress in IT exports and the GDP and the per capita income in the State are on the rise. It also ranks high in ease of doing business rankings. These factors put the State in a good position to attract new investments in electronics and allied segments,” Rama Rao said, adding that Telangana in the last five years had attracted investments worth $ 32 billion.

Recalling his trip to Taiwan, he said that Telangana had already signed a technology partnership agreement with the Taiwan Computer Association (TCA). “Telangana is also the only Indian State to set up a start-up alliance with Taiwan,” he said adding that the world’s industry has much to learn from the Taiwan industrial culture.

Invest India CEO Deepak Bagla said Telangana has been progressing on multiple fronts and it was good to work with Telangana government.

Taiwan External Trade Development Council Chairman James F Huang said Telangana, with its policies, was a natural partner for Taiwan. Several Taiwan companies already have a presence in the State, he added.

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