HYDERABAD: IT and Industries Minister KT Rama Rao said on Thursday that 80 percent of the companies, which got approvals under TS-iPASS have started work.
Rao on Thursday participated in the US-India Business Council Destination India state-focused virtual session. During the session, the Minister highlighted investment opportunities in Telangana, and appealed to company heads to look at the progressive states in India as individual units when they invest in the country.
He said Telangana, in its unique way, had been attracting major investments for the past six years. He said the State government’s investment opportunities and policies were helping the state achieve unprecedented growth rates. He termed Telangana as one of the best states in terms of ease of doing business.
Through TS-iPASS, the government had been giving approvals to industries within 15 days, he said, and added that 80 per cent of the companies which had received approvals had already started their work. The Industries Minister said the State had accorded top priority to pharma, life sciences, innovation technology, textiles, aerospace and defence sectors.
Rao highlighted the efforts being put in by the government to support various industries during the pandemic. He stated that India’s largest medical device park was in Telangana and mentioned the investment opportunities in the medical devices sector.
During the webinar, US-India Business Council’s (USIBC) President Nisha Biswal said, “As we adapt to a new normal, USIBC has been focused on working with our members and partners to ensure business continuity while also planning for the future.”