“Since last nine years, Telangana has been focusing on expeditious approvals for industries and drawing investments and to utilise the revenue for implementing different welfare and development programmes” Rama Rao said.
Published Date – 01:18 PM, Thu – 21 September 23
Hyderabad: Industries Minister KT Rama Rao said no State could match Telangana in terms of conducive policies or facilities being extended for rapid industrialisation and employment generation.
Despite the rift with the State government, the Union government was compelled to declare that Telangana ranks best in Ease of Doing Business. The Phase III facility at Karakapatla was fully occupied and officials were stressing on expansion of Genome Valley by 250 acres. This was in addition to acquiring 132 acres, the Minister said, adding that Genome Valley was Asia’s largest Biotech cluster.
The Minister broke ground for a new injectable unit of Bharat Serum Vaccines, which was being set up with an investment of Rs.200 crore at Genome Valley here on Thursday. The idea was to ensure more equitable opportunities were provided to talented youth, he said.
Recalling his interaction with Lucas, a promoter of a Spanish company four days ago, the Minister said he had asked him whether the company was investing in Telangana considering the cost arbitrage.
In reply, the gentleman said it was only 20 to 25 cheaper than Spain but it would take about a year to get the right talent and in India it takes just two months. The abundance of talent in India was drawing companies to the nation, the Minister said.
In the 1980’s India population was considered a challenge. But today, India’s biggest resource and strength was talented youth. Channelising the energy of the youth in the right direction was essential. In 2014, Telangana’s per capita income was Rs,1.14 lakh and it increased to Rs.3.17 lakh, the highest in the country. This is what has to happen in India, the Minister said.
“Since last nine years, Telangana has been focusing on expeditious approvals for industries and drawing investments and to utilise the revenue for implementing different welfare and development programmes” Rama Rao said.
Stating that the State government was according top priority for women’s health, the Minister said under Arogya Mahila programme, every Tuesday women were being treated for different health issues at all health facilities.
“Telangana government will be happy to work with Bharat Serum to tackle the RH negative issue among women and set a new benchmark for other States. Even if 10 to 15 lives are saved annually, that should be commendable work” Rama Rao said.
Telangana government was targeting to increase the life sciences ecosystem from $80 billion to $250 billion by 2030. This would increase employment and Hyderabad would also become a life sciences hub for complex manufacturing at scale, he said.
The Minister said the biggest challenge for US President Joe Biden or Prime Minister Narendra Modi or Chief Minister K Chandrashekhar Rao was to generate employment, creating wealth and to utilise the funds for implementing different welfare and development programmes. To impress upon a company and to get their investments in this competitive world is very challenging. The State government has to keep following up with the investors, discuss a lot of things, including the prevailing circumstances in Telangana and other States, he said.
“We have to infuse confidence among the company managements and offer incentives. All this is being done to generate employment opportunities and to spur economic activity. All these measures will lead to generating increased revenue for the State government, which in turn will implement different welfare programmes,” Rama Rao said.
