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Armed with a land bank of 145,000 acres and promising uninterrupted power supply, quick, and hassle free clearances, Telangana the newest State of India, is all set to woo big ticket investments. The State has readied a new industry policy and has invited top honchos from India industry, CEOs of MNCs in India and diplomats for a meeting with Chief Minister K Chandrasekhara Rao on June 12 at the Hyderabad Industrial Convention Centre.
Approvals for mega project proposals with investments of over ₹200 crore and employment of over 1,000 will be cleared in 15 days. If the project size is smaller it will take under a month. All that the investor has to do is apply online.
Speedy approvalThe government has started approving various projects under the new policy (Telangana State Industrial Project Approval and Self Certification System TS-iPASS), which was passed by the Assembly in November. The new system will do away with the hassles of running to 10 different offices and filling out physical forms. A special online platform has been created to enable ease of applying and getting relevant approvals, official sources told BusinessLine .
The State government has assured power, zero corruption, timely approval, online applications and refunds and above all land that is free from encumbrances, the official said. The necessary mechanism to deliver on the promises is also in place.
During the last two months, the systems have been tested and there has been a jump of nearly 40 per cent in queries for investments in the State which has the advantage of the capital city of Hyderabad, with its huge IT, research and technical education hubs and 9 districts.
Industrial parks readyThe State has also spruced up 148 industrial parks and made them ready to occupy in the districts for various manufacturing sectors.
The Telangana State Industrial Infrastructure Corporation (TSIIC) has created a database of land bank, industrial parks and infrastructure. During the last one year, the Telangana government has worked on fine tuning the policy and filling up gaps to ensure an improved investment climate.
The other key factors that the government wants to project are the huge pool of skilled and semi-skilled workforce as well as the conducive law and order situation and the State being seismologically (earthquake hazards) stable.
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