Telangana policy at Hitex meet today
Nearly 3,000 invitations were sent to industrialists and trade and commerce bodies
Hyderabad: Expecting to get over Rs 10 lakh crore investments for Telangana, Chief Minister K. Chandrasekhar Rao will launch the new industrial online approval system (TS-iPASS) on Friday at Hitex in the presence of corporate bigwigs.
This is the first major industrial event in Hyderabad since the partnership summit of January 2012, incidentally held at the same venue during former Chief Minister Kiran Kumar Reddy’s regime in the undivided state.
Nearly 3,000 invitations were sent to industrialists and trade and commerce bodies like Ficci, CII etc. The TS government is banking on a readily available land bank of 1.70 lakh acre besides uninterrupted power supply, zero corruption and approvals within 15 days through a single and common application mode online to attract investments to the state.
Industries minister Jupally Krishna Rao said, “TS-iPASS has been generating a lot of interest from investors in India and abroad ever since it was enacted in November last year. We were having trial runs of the new approval system since February to assess for ourselves how fast we can give approvals through an online, single window system in a hassle-free manner.
We have already received investment proposals worth Rs 11,000 crore during the trial run, of which proposals worth Rs 6,000 crore are cleared and grounded. This shows the huge response for TS-iPASS even before its formal launch.” He said though most applications received were for Micro, Small and Medium Enterprises, several mega projects of investments – of over Rs 300 crore each – are in the pipeline.