TS-iPass gives approvals to 11,570 units and 80% of them functioning generating more than six lakh jobs
Hyderabad: Telangana state has become the torchbearer for development in India. From innovative initiatives and people-friendly benefitting schemes in agriculture, animal husbandry, electricity, industries, infrastructure, the TS Government has set standards for other States to look up to Telangana State, opined the industry in Telangana on the occasion of State’s sixth formation day celebrated at The Federation of Telangana Chambers of Commerce and Industry (FTCCI) on Monday.
Karunendra S Jasti, President, FTCCI, said “ Despite being India’s youngest State, Telangana strides in industry development and launching friendly initiatives is phenomenal. There is significant growth in the registration of new industrial units in Telangana. The transparent TS-iPASS industrial policy has given approvals to more than 11,570 industries. And about 80 per cent of the companies have started functioning generating more than six lakh jobs. The ease of doing business coupled with excellent infrastructure in the State has attracted some big-ticket investments like IKEA, Amazon, Intel, Micron, OnePlus, SkyWorth, and Hitachi Vantara among others”.
Telangana is witnessing steady growth of startups. The startup ecosystem including (T-Hub, We Hub) is strengthened by the entry of global co-working space providers like WeWork and with the State working on second phase of T-Hub to boost the innovation ecosystem in the city. Post Covid-19 , the industry is expecting many companies to relocate to Hyderabad and Telangana from China, he said.
V Rajanna, Senior VP, TCS and also past Chairman CII said “Telangana State has registered stunning performance in the IT sector. The State has delivered Rs 1.2 lakh crores in IT exports with an annual growth rate of 18% and contributing 12 % of nation’s IT exports. The IT industry has led rapid economic growth in the State contributing 1/3 of Telangana’s exports. The industry employs largest number of people which is in excess of 5.8 lakhs comprising of 1.8 lakh women work force.
The IT industry in Telangana is providing indirect employment to more than 20 lakh people in the areas of catering, housekeeping, logistics, security and others. The State Government initiatives to expand the IT sector into Tier 2 cities like Warangal is an excellent move creating job opportunities in various regions, Rajanna said.
Ramakanth Inani, Senior Vice President , FTCCI, said it has been engaging with the Government to represent our members and providing necessary support to trade and industry. FTCCI played a key role in the Covid-19 times by reaching out to Central and State ministers and officials with the concerns of the Telangana industry
Venu Vinod, MD, Cyber City, said: “ Telangana spent the highest amount in the country on economic development and infrastructure. At 63% of the Budget allocation spent on economic development and infrastructure, the State is above the national average” Allaying fears post covid-19, Vinod added that real estate sector will become bullish and Hyderabad will remain the a favorite investment destination
G V Prasad, Co-chairman and MD, Dr. Reddy’s said: “Pharmaceutical industry is an important part of Telangana. The industry is nurtured well by the Government and the eco system. It is doing well and the State pharma industry is the center of innovation globally for APIs and generics.
Bhaskar Reddy, Vice-President, FTCCI said that Telangana’s projects in irrigation have become the subject of several case studies globally. Through initiatives such as the Kaleshwaram, Mission Bhagiratha and Mission Kakatiya, the State is creating a solid base for enhancing farmer incomes sustainably over the coming decades, while providing a high quality of living for its citizens through excellent facilities for basic services (power, water, sanitation and connectivity). The State has now become rice bowl for India and fulfilled its dream of bringing in one-crore acre under cultivation. This has been possible only through the farmer friendly welfare initiatives of the State Government, he said.