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    HomeBusinessTelangana flays Centre for cold response to project proposals

    Telangana flays Centre for cold response to project proposals



    Our Bureau | Hyderabad, June 6 | Updated on: Jun 06, 2022

    The State attracts ₹17,867 crore from 3,938 firms in 2021-22

    The Telangana government has flayed the Centre for not helping the States that are performing well.

    Telangana’s IT and Industries Minister KT Rama Rao said “We should think of developing the country, keeping the political differences aside,” he said.

    Addressing a gathering after releasing the performance report of the Industries Department here on Monday, he said that the State had sent proposals for creating six Industrial Corridors over the last few years. “But there has been no response from the Union Government. It has failed to honour the promises made by it at the time of the bifurcation of Andhra Pradesh,” he said.

    Stating that the TS-iPASS (industrial policy) helped the State attract ₹2.32-lakh crore investments and generated 16.48 lakh jobs, he said the policy sought to penalise the officials if they delayed any industrial proposal beyond the prescribed deadline.

    “You can promote the GIFT City (a business district being developed in Gujarat), but send some ‘gifts’ across to other States as well,” he said.

    Report card

    “Telangana’s GSDP was ₹11.54-lakh crore with a growth rate of 19.1 per cent. Our share in the national GDP has increased to 5 per cent,” he said.

    “Telangana continues to attract major investments from national and global companies such as Malabar Gold & Diamonds, Pokarna Engineered Stone Ltd, Ivanhoe Cambridge, Kitex group, Triton EV, Amul and Fishin’ Company,” he said.

    The State attracted ₹17,867 crore of investment in 2021-22 as 3,938 companies announced investments and created employment for 96,863 people.

    The State developed 13 new Industrial Parks and allotted 810 acres to 526 industries with an aggregate investment of ₹6,123 crore.

    “Despite the partial Covid related slowdown, Telangana has been able to attract record number of investments in FY21-22 and the momentum is growing. After the lull in economic activities of the past two years, we are now gearing towards an accelerated growth phase in the State,” Jayesh Ranjan, Principal Secretary (IT and Industries), said.

    The life sciences and pharma sector attracted 215 proposals in 2021-22 with an investment potential of ₹6,400 crore and 34,000 jobs.

    Canadian company Ivanhoe Cambridge announced its plan to create 1-million sq ft lab space at Genome Valley with an investment of $100 million.

    Published on June 06, 2022

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