Telangana to woo more investments across sectors

Hyderabad, Dec 17 (SocialNews.XYZ) Telangana will take more steps to attract investment with Industries and Information Technology Minister K.T. Rama Rao planning to hold sector-wise meetings with industry heads.

He asked the IT and Industries Department officials to provide complete information related to land banks and industrial parks to the investors who show interest in setting up their firm in the state.

At a review meeting held on Tuesday, Rama Rao directed the officials to aggressively work towards bringing in more investments to the state to generate employment opportunities.

KTR, as the minister is popularly known, said that the state's industrial policy succeeded in attracting investors from across the world. TS-iPASS has already granted approvals to 11,569 industries out of which 80 per cent companies have already started functioning and have generated six lakh jobs.

He stated that the government will bring in more textile, electronics, and food processing industries to the state as these sectors have abundant scope to create jobs for the unemployed youth. He said that many foreign investors from the textile and electronics sectors are keen on investing in Telangana.

Stating that the government created favourable conditions for the textile industry, the minister said Telangana housed the country's largest textile park - Kakatiya Mega Textile Park in Warangal and recently signed the final agreement with Korean company Youngone Corporation.

To boost the electronics manufacturing sector in the state, KTR recently held a series of meetings with industry representatives in Bengaluru.

He told the meeting that major firms such as One Plus, and Sky Worth have already set up their facilities in Hyderabad, and that attempts are being made to rope in electric vehicle and battery manufacturing industries.

Source: IANS