Telangana Industries and Commerce Minister K.T. Rama Rao exuded confidence that the state would be setting new records in industrial growth this year. He was releasing the annual report of the Industries and Commerce Department for 2016-17, the third year after the formation of Telangana.
Telangana has achieved 10.1 percent year-on-year growth in Gross State Domestic Product (GSDP) in 2016-17 against the national GDP average of 7.1 per cent. The share of Telangana’s economy in national GDP has increased by seven basic points in 2016-17.
“We have already given permissions to investments worth Rs 73,000 crore in the last two years, which resulted in creation of 2.46 lakh direct jobs and around 7 lakh jobs indirectly. We are proud to announce that more than 50 per cent of these industries are already grounded and commenced operations,” KTR announced.
The state government has assured legislative support to investors through its Telangana State Industrial Project Approval and Self-Certification System (TS-IPASS) industrial policy formulated in 2015. KTR also launched the logo and website of the Telangana Industrial Health Clinic aimed at reviving sick units, which was set up with a corpus fund of Rs 100 crore.
The government, he said, would soon set up industry-specific parks such as Kakatiya Integrated Mega Textiles Park, Sircilla Apparel Park, four mega food parks at Nizamabad, Gadwal, Khammam and Sangareddy.
“We hope to push small and micro industries through new initiatives such as the Industrial Health Clinic and thereby increase employment and productivity of Telangana State in the coming years,” Jayesh Ranjan, principal secretary for industries and commerce said, adding that the department had made significant progress in terms of investments and development of new industrial parks and clusters in 2016-17.
A slew of industrial infrastructure development initiatives are being taken up by the government, starting with the launching of the medical devices park at Sultanpur in Sangareddy district on June 17. Around ten companies will be signing agreements with the government for establishment of their units in the park which is spread over 250 acres.
