Telangana to open industrial corridors with Korea: KTR

By Newsmeter Network  Published on  27 Sep 2019 9:37 AM GMT
Telangana to open industrial corridors with Korea: KTR

Hyderabad: Telangana government is focusing on creating vertical-specific industrial corridors across the state. Industries and IT Minister KT Rama Rao has assured the visiting Korean representatives on developing the industrial corridor exclusively for them. Further, the Telangana government has requested Confederation of Indian Industry (CII) to create a southern block of trade and investment.

After doubling the IT exports since the formation of Telangana state, the TRS government is focusing on the manufacturing sector and industry-specific investment corridors.

Interacting with a delegation from the CII, Mr KTR asked the industry body to focus on creating a block of all south Indian states and work for an industrial growth corridor.

Mr KTR also holds IT and handlooms ministries in addition to the Municipal Administration and Urban Development (MA&UR) portfolio. The Telangana government has initiated work on the Hyderabad-Warangal industrial corridor. Mr KTR wanted the industry body to play a catalyst role to scale up growth. The Telangana Chief Minister Mr K Chandrashekhar Rao has also proposed an industrial corridor between Hyderabad and Nagpur.

Mr KTR further advised the CII to mentor the micro, small and medium enterprises (MSMEs) in enhancing the financial performance, productivity and fiscal health.

The Telangana Industry Minister also interacted with 'Korean Caravan,' representatives from South Korea and assured them of an industrial cluster for manufacturing activity.

Mr KTR offered several investment sops to the Korean companies for setting up units in textiles, electronics, food processing, pharmaceuticals under the 14 priority sectors in Telangana.

KTR made a presentation on ease of doing business (EoDB) and how Telangana is leading the country.

Telangana CII Chairman D Raju led the delegation and discussed with Mr KTR. The TRS government also discussed with the CII on how Telangana could become a premier investment state in the country. Taking advantage of the recent corporate tax cuts, the TRS government is aiming to attract foreign direct investment (FDI). Once industrial corridors with all the eco-system are ready, Telangana government plans to compete with international destinations like Cambodia, Thailand, Malaysia and Vietnam.

Highlighting the importance of corporate social responsibility (CSR), Mr KTR asked the captains of the industry to undertake highly visible and tangible projects for society. The minister said the Telangana government was working on developing fast-track projects in the tourism sector.

The CII’s Indian Green Building Council will work with the Telangana government for getting green ratings for new infrastructure projects in the state.

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