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Telangana received ₹2,60,028 crore investments in industries during 2014-2023 period through the instant industrial policy — TS-iPASS — of the previous BRS Government.
According to the State At a Glance 2023, released by the New Congress Government, the investments generated 17.54 lakh employment, as per the State Economy Update. The investments were routed through industrial investment facilitation legislation and system, TS-iPASS since its implementation in the State in 2015.
The Telangana State Industrial Project Approval and Self Certification System, which was passed as a legislation to support industries, is a one of its kind initiative of the State Government. It provides for industries willing to set up units in the State, if a permission is formally not given or not communicated to the proponent.
”Given the quantum of investments that flowed since 2014, we have to label it as substantial and TS-iPass did perform well. The investment environment in Telangana was not so good when the state was formed in 2014 but it was nurtured well by the then Government to reach this level,’‘ B Yerram Raju, an economist and founder director of Telangana Industrial Health Clinic told businessline.
On the expected role of the new Congress government in the State in the promotion of investments and industries, Raju said, “I think it will continue. They have already indicated the framing of a state MSME policy which will be the first of its kind. Once it is rolled out, it will drive further growth on the back of the prevailing robust investment ecosystem in Hyderabad.
NEW THRUST
The new State Government has already announced its special focus on industrial growth led by a new thrust on the MSMEs aimed at creation of wealth and jobs.
While Sridhar Rao has taken over as the new Minister of IT & Industries recently, Chief Minister A Revanth Reddy is expected to review the industries department including TS-iPASS soon. In the last two years, a slew of new policies like Life Sciences Policy and e-mobility valley announced by the previous government are also to be taken forward.
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