Hyderabad: The plans of the TS government to set up World Trade Centre in Hyderabad along the lines of Mumbai and Bengaluru got a boost on Monday with the Centre giving in-principle approval to fund the project.
With this, Hyderabad will join the global network of World Trade Centres, a hub for international businesses. It will be the third city in the country to have a WTC. WTCs are currently located in 100 countries.
The government plans to set up WTC in PPP mode on the city’s outskirts. It will seek a licence from the World Trade Centres Association (WTCA). The WTCA, headquartered in New York City, was established in 1970 as a non-profit organisation to promote growth of international trade.
Industries minister K.T. Rama Rao met Union commerce minister Nirmala Sitharaman in New Delhi and sought financial assistance from the Centre.
Mr Rao later told reporters that the Union minister gave in-principle approval and asked the state government to submit detailed proposals.
Mr Rao also sought multi-product SEZs, dry port and tax concessions for TS as promised during bifurcation of AP and expedite Cabinet clearance to two industrial corridors along Hyderabad-Warangal and Hyderabad-Nagpur highways.
Mr Rao also sought Rs 1,500 crore for Pharma City, to set up world-class affluent treatment plant and the minister approved Rs 200 crore in the first phase. He brought to the notice of the minister that there was only one Central SEZ commissioner for both AP and TS, who is stationed in Vizag and sought the same to TS. Mr Rao also sought a dry port in TS, since the state is landlocked.
“TS has higher number of SEZs over AP. But we have no multi-product SEZs. We sought two multi-SEZs and dry port at a single location so that it would be suitable for imports and exports. We also requested to bear some portion of transportation charges on imports and exports from dry port. The minister told us that the Centre is in the process of devising a dry ports policy in this regard and Telangana would be considered for a pilot project for implementing this,” Mr Rao said.
