HYDERABAD: With stable governments at the helm in Telangana and Andhra Pradesh states, industry hopes for clarity on multiple issues including policy matters, taxation and single-window clearances.
“Now that we have clarity on the administration and governance, both the states will flourish with growth due to ample opportunities,” said Debasis Chatterji, CEO, Netxcell Ltd adding that development of smaller towns and cities will offer more growth opportunities.
Stating that Hyderabad is the second largest city for IT industry in India, Ramesh Loganathan, vice-president and managing director of Progress Software, said that with some policy and government support, the city would make a compelling option. “While growing the existing industry and SEZs is a good initial starting point, the best future-proof option may be to create an ecosystem that fosters innovation and new IP (Intellectual) led-startups,” he explained.
Meanwhile, Ajay S Shriram, president of Confederation of Indian Industry and chairman and senior managing director of DCM Shriram Ltd, met chief minister K Chandrashekar Rao here on Monday and discussed apsects such as power, ITIR, investment and branding Telangana. While Rao assured continuous power supply to industry, Shriram emphasised the need for collaboration to ensure greater job creation.
Industry is hopeful that the new governments will promote entrepreneurship and innovation to aid growth. According to Murali Bukkapatnam, President - TiE Hyderabad Chapter, the government should set up incubation centers to fuel innovation.
“The expectations are that we will have a positive impact on the industrial and economic prosperity in both states,” said Suman Reddy, vice-president and managing director of Pegasystems India.
According to him, MNCs look for availability of talent, cost advantage, good infrastructure and investor-friendly policies.
“With stable governants in place in both the states, a larger share of growth is expected to return to Hyderabad. The development of growth corridors in both states will help attract investments that are currently stalled or being diverted into other states,” he said.