Triumphant Telangana: State got investments worth $40 billion since formation

Telangana has attracted investments worth a staggering Rs.3.30 lakh crores (40 billion US dollars) through the path-breaking TSiPASS and in IT and ITeS Sectors since 2014.

Hyderabad: Reflecting the State’s investment friendly approach and the resilience with which the government has withstood challenges to develop infrastructure despite being the country’s youngest State, Telangana has attracted investments worth a staggering Rs.3.30 lakh crores (40 billion US dollars) through the path-breaking TSiPASS and in IT and ITeS Sectors since 2014.

Stating this here on Monday, IT and Industries Minister KT Rama Rao said the State had consequently created over 22.5 lakh jobs. The overall investment amount and employment figures would be much higher if real estate, hospitality, mining, logistics and other sectors were taken into account, he said.

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At a meeting with officials from the IT, Industries and Commerce Departments, the Minister asked for a report on investments attracted by all sectors. The State government’s revolutionary policies, industrial parks, transparent governance and TSiPASS, which were in sync with Chief Minister K Chandrashekhar Rao’s vision, helped in attracting the investments, he said.

A total of 14 priority sectors were identified by the State government and a director was appointed for each of these sectors. Besides this, during constant engagement with companies that were keen to invest, details on the State government’s pioneering policies, world-class infrastructure available here were presented, he said, adding that this approach helped attract investments.

Lauding officials of the two departments and exhorting them to work in the same spirit to continue the spree of investments into the State, the Minister also discussed various activities to be taken up in the two departments and projects scheduled to be inaugurated.

Expressing happiness about the huge number of jobs provided through the investments, Rama Rao said Hyderabad overtook cities that were in leading positions in providing employment opportunities.

Chief Secretary Somesh Kumar, IT and Industries Principal Secretary Jayesh Ranjan, Urban Development Special Chief Secretary Arvind Kumar, TSIIC Ltd VC and MD EV Narsimha Reddy and officials were present.