HYDERABAD: The visit of a delegation of entrepreneurs and businessmen from France, led by French Ambassador Emmanuel Lenain, to Hyderabad on Friday has raised the State government's hopes of attracting more investments from the country, particularly in the areas of defence, aerospace, FMCG, technology, manufacturing and urban transportation.
In the past, a commitment was made for the investment of Rs 6,333 crore into the Hyderabad Airport to increase its capacity to handle 34 million people, besides the doubling of investment to Rs 200 crore in its upcoming manufacturing facility in the State by French fruit beverages manufacturing company Georges Monin.
Things are looking up for Telangana with the French Ambassador responding positively to IT and Industries Minister KT Rama Rao's presentation on the industrial climate in the State. He made the presentation at an investors' conclave attended by Indo-French Chamber of Commerce and Industry (IFCCI), which saw the participation of more than 100 existing and potential French investors.
Earlier in the day, the delegation visited French companies in Hyderabad, including Safran Aircraft Engines, Mane India and Sanofi-Shantha Biotech.
In his presentation, Rama Rao showcased Telangana as an investment destination for entrepreneurs as it had brought forth TS-iPASS, through which all clearances were given to a potential investor in just a matter of 15 days. "The new initiative of according approvals has been received well by investors. The initiative is a first-of-its-kind in India," the IT Minister said.
Rama Rao underscored the need for investors to look closely at Hyderabad as it was suitable for them both in terms of government policies and lifestyle. "The State government has the best industrial policy. One should not look at the Central policy alone," he said.
The Industries Minister pointed out how sectors including pharma, life sciences, IT, innovation, aerospace and defence were flourishing in Hyderabad. He recalled how the city had emerged as the vaccine capital of the world. It is the hub for a number of top technology companies, he said.
The French Ambassador said that he was impressed with the industry-friendly ecosystem in Hyderabad and averred that there was scope for investment in the area of innovation other sectors.