Telangana Attracts Over Rs 2,500 Cr Investment Proposals

Telangana has attracted investment proposals worth over Rs 2,500 crore since the formation of the state on June 2, 2014.

“Since the formation of the new state till January 31 this year the government has received 5,289 applications for micro, small and medium units with investment outlay of Rs 2,538 crore and employment (potential) for 46,235 persons,” State Industries Minister Jupally Krishna Rao said.

“A negative perception had been created earlier that industries will be driven away if Telangana was created,” he said.

The minister said that 2.5 lakh acres of land, fit for industrial activities, have been identified and necessary infrastructure will be created thereon.

Rao was speaking to reporters at an event where the first approval certificate for setting up industries under the new Telangana State Industrial Project Approval and Self Certification System (TS-iPASS) was handed over to VST Industries, a tobacco products maker.

VST is setting up a tobacco processing unit at Toopran on the city outskirts at the cost of Rs 80 crore. It is expected to create 600 jobs.

The minister said a toll-free number and a new website would be soon launched, and `a chasing cell’ would be set up in the Chief Minister’s Office in support of the new industrial policy.

“Under the new policy, all mega Projects would be cleared in 15 days,” Rao said, adding that efforts were on to put together a package for revival of sick industries.

“In view of the 30-day industry clearance system in our new industrial policy, we wanted to check out issuance of the certificate in a trial run,” a senior official said.

“The rules are being framed. As part of trial run under TS-iPASS, approval clearance was given to VST Industries in 20 days,” said the Managing Director of Telangana State Industrial Infrastructure Corporation, Jayesh Ranjan, who is also the Commissioner of Industries.

Telangana Assembly in November had passed Telangana State Industrial Project Approval and Self Certification System bill for ensuring timely clearances to industries.