Hyderabad: Investments in excess of Rs 1.34 lakh crore, 8,167 industrial units, and employment potential of over 8.52 lakh!
The industrial landscape in Telangana has undergone a seachange in the past four years with the State emerging as a favoured investment destination, attracting industries of different scales from various sectors.
Thanks to the introduction of the unique Telangana State Industrial Project Approval and Self-Certification System, popularly known as TS-iPASS, the State has so far attracted investments worth Rs 1,34,786.35 crore from 8,167 industries which are in different stages of implementation.
Since January this year alone, investments totalling Rs 16,892.52 crore poured into the State following the effective implementation of the TRS government’s flagship industrial initiative TS-iPASS, under which any industrialist seeking permission to set up a unit will have to get the clearance within 15 days, failing which it is deemed to have been approved.
The State has emerged as a favoured investment destination for investments in various sectors including IT, pharma and manufacturing in the past four years. Besides ensuring uninterrupted power supply, the Telangana government made a turnaround in industrial development with the introduction of TS-iPASS providing much-needed boost for development of the industrial sector which accounts for 26.7 per cent of Gross Value Addition (GVA) of the State.
IT and Industries Minister K T Rama Rao, speaking at the Credai Youth Wing Convention, Youthcon 2018, earlier, said: “Unlike other places, we don’t have multiple windows behind a single-window. Our system ensures that there are no grills in the window, ensuring a seamless approval process avoiding any room for delays and corruption. Our system is so stringent that the official responsible for the delay in issuing clearances beyond 15 days, is punished with a daily fine till the clearance is given to a project, to ensure there are no bottlenecks.”
According to government records as on October 13, the State attracted investments amounting to Rs 1,34,786.35 crore from 8,167 industries, that would create a whopping 8,52,506 jobs which is a significant jump from 4,40,863 jobs as on January 12. In all, 5,973 companies commenced operations with a total investment of Rs 60,612.75 crore providing 2,67,351 jobs. Another 668 industries are in advanced stages of completion and ready to commence their operations with investments amounting to Rs 27,706.35 crore and creating employment for 1,96,228 people.
Another Rs 40,912.68 crore of investment will be made by around 564 companies which are in the initial stage of project implementation. These industries are expected to create 3,09,508 jobs. Another 962 companies have obtained necessary permissions but are yet to commence construction with an investment of Rs 5,554.57 crore to generate 79,419 jobs. The districts of Rangareddy, Medchal-Malkajgiri and Hyderabad lead the district-wise revenue charts across the State.
Telangana State has witnessed several big ticket investments since the launch of TS-iPASS in January 2015. Around 75 companies have made investments ranging over Rs 200 crore, for a total of Rs 86,679.63 crore and generating 1,47,278 jobs. Another 64 companies have invested in the range of Rs 100-200 crore with total investments amounting to Rs 8,598.78 crore employing 53,545 people.