Economy

TS-iPass attracts ₹1.73 lakh cr investment in 5 years: KTR

Our Bureau Hyderabad | Updated on December 04, 2019 Published on December 04, 2019

KT Rama Rao, Minister of Industries, Government of Telangana

Over ₹ 1.73 lakh crore investments have come into the State since the implementation of Telangana State Industrial Project Approval and Self Certification System (TS-iPASS), , said KT Rama Rao, Minister of Industries, Government of Telangana.

He said at a function to mark the completion of five years of the launch of TS-iPASS, that it has also helped generate over 13 lakh jobs.

The Telangana government had enacted the TS-iPASS in 2014 for speedy, single-point processing of applications for various clearances required to set up industries.

The clearances are time-bound and based on self-certification by the entrepreneurs. The objective was to create an investor-friendly environment in Telangana. Time limits for each approval vary from one day to a maximum of 30 days.

“We are committed to industrialisation of Telangana. With the support and guidance of investors, we will continue to bring in new reforms which will reduce corruption, improve ease of doing business and lower the cost of doing business,” he said.

He also presented a cheque of ₹305 crore towards subsidy to T-Pride (Telangana State Program for Rapid Incubation of Dalit Entrepreneurs) on the occasion.

In a separate statement, the Confederation of Indian Industry (CII) also hailed TS-iPASS. D Raju, Chairman, CII - Telangana, said: “TS-iPASS is one of the best industrial policies and made Telangana a pioneer in the country in terms of single window approvals for industry.”

.

Published on December 04, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.