Telangana government clears investment proposals of 17 companies

Sai Nikesh | The Dollar Business

Ten days after the launch of its industrial policy for 2015, the Government of Telangana (GoT) accorded project proposals of investors from 17 companies who expressed their willingness to set up their units in the State with a total investment of Rs 1500 crore. K Chandrasekhar Rao, Chief Minister (CM), GoT, handed over package of permit papers regarding the proposals, to the investors on Tuesday. Key part is that ‘all the project proposals put forth by the companies, whose applications for setting up industries have been finalized, were approved within ten days of applying against a time-limit of two weeks provided under the policy’. Speaking to The Dollar Business, Jayesh Ranjan, Director, Telangana State Industrial Development Corporation, said, “Companies coming forward to invest in Telangana State is definitely an overwhelming response for the Telangana State Industrial Project Approval and Self Certification System (TSIPASS).” By ensuring an industrial-friendly policy, Telangana State remained as an example for the other Indian States in attracting investors, thus, giving boost to ‘ease of doing business’ environment in India, he noted. “It’s the Chief Minister’s firm belief on bureaucracy in the State, among other factors, that paved way for fast-clearances of project proposals in a short period,” said R V Chandra Vadan, R V Chandravadan, IAS, Commissioner, Department of Information and Public Relations, Government of Telangana, speaking to The Dollar Business. He went on to say that KCR is the only Chief Minister, compared to previous governments in the erstwhile State, that has given real freedom for ‘bureaucracy functioning’ by constantly pitching for a transparent and graft-free system. Meanwhile, Anil Reddy Vennam, President, Federation of Telangana Andhra Pradesh Chamber of Commerce and Industry (FTAPCCI) termed the move as first stage of industry setup process and expressed hope that government would continue a similar pace of fast clearances in future also. Various other companies have also expressed their willingness to invest in the State during TSIPASS launch event on June 12, 2015. While companies like ITC readily announced Rs 8500 crore investment, few other companies are under planning stages and are likely to come up in future, he added. ITC Limited, MSN Life Sciences Private Limited, Solithro Private Ltd, Sneha Farms Ltd, Anjani Portland Cement Ltd, Pioneer Torsteel Mills Ltd, Aizant Drug Research Solutions , Nuzen Industries Pvt Ltd, are among other companies those were said to have received clearances from the State government for their proposals. ITC, with a total investment of Rs 800 crore for setting up a food processing unit in Medak district, stands as a biggest investor among others. Apart from an investment for setting up food processing unit, ITC had also announced Rs 1000 crore investment for setting up an ITC grand hotel in Cyber City.    

June 23, 2015 | 9:18 pm IST.