Telangana to Launch New Industrial Policy Focused on MSMEs, says Sridhar Babu
Hyderabad: IT and industries minister D. Sridhar Babu said that the Revanth Reddy government will shortly announce a new industrial policy, whose focus would be on MSMEs. Apart from being industry and investor-friendly, the policy will retain the best practices from the existing TS-iPASS. He also announced the creation of a special cell in the industries department, which will constantly monitor the progress of investment commitments and MoUs signed with MNCs during the recent foreign tour of the Chief Minister and even his WEF participation at Davos.
Addressing a media conference on the recent official visit to the USA and South Korea, Sridhar Babu said that they had struck 19 investment deals totaling Rs 31,500 crore that would help create 30,750 jobs in the State. They also focussed on setting up global capacity centres, AI and semiconductor units in the state, he said.
World Bank President Ajay Banga, who pursued his education in Hyderabad, had shown keen interest and saw the Musi riverfront rejuvenation project as a growth engine to protect the natural stream. They also discussed the flagship projects of the government, including the Future City, AI City and Skills University, The meeting with Adobe CEO Shantanu Narayan was also similarly fruitful, he said.
Charles Schwab and Trinet announced establishing a new global capacity centers (GCC) in the state, while Cognizant and Arcesium announced expansion plans in Hyderabad, he said
The top biotech company in the world – Amgen is to set up a new R&D tech facility centre in Hyderabad, while Zoetis Inc, a leader in the animal health sector, has announced plans to set up a GCC in Hyderabad. HCA and Thermofisher have come forward to give a further boost to the life sciences ecosystem of Telangana.
Contrary to projections that Corning was leaving Hyderabad, a MoU was reached with Corning on skilling and flow chemistry, Babu said.
Amazon had announced their plans to significantly expand their data centre presence in Hyderabad and make the AWS region their largest hub in India for cloud infrastructure. Aurum Equity too announced plans to set up an AI-powered green data centre in Hyderabad, he said.
In the South Korea tour, the Telangana team participated in two industry roundtables hosted by KOFOTI (Korean Federation of Textile Industries) and KOBITA (Korean Beauty Industry Association). The Chief Minister also met Han river project officials to identify the best practices and explore potential collaborations for Musi river front rejuvenation, he said.
Hyundai Motors is keen on making Hyderabad their global hub for R&D. They will also manufacture all their new test vehicles in their upcoming facility in Telangana, Babu said
Replying to a question, the minister pointed out that only 30 to 35 percent of projects entered into MoUs by the KCR government were grounded in the last 10 years. During Rao’s tour of China, though they had entered MoUs for Rs 1000 crore, only Rs 100 to Rs 200 crore works were grounded in the state at that time, he said.