Telangana to offer incentive package for investments
news Monday, June 23, 2014 - 05:30
The News Minute | June 23, 2014 | 05:20 pm IST Hyderabad: Telangana Chief Minister K. Chandrasekhar Rao on Monday assured investors that his government will offer the best business regulatory environment and competitive incentive package for future investments in the state. Inviting the national and international investors to the state, he assured the best class facilities and environment for investments. The chief minister was speaking at the ground breaking ceremony of Tata Advances Systems Ltd's partnership with RUAG Aviation to manufacture the fuselage and wing of Dornier 228 aircraft. This will be TASL's fourth unit at aerospace Special Economic Zone (SEZ) at Adibatla here. Rao, who was attending the first corporate event after taking over as the first chief minister of the newly-created Telangana state early this month, said the partnership demonstrates Tata Group's faith and confidence in the state. "It is our determination and strong endeavour that Telangana should emerge as a favourite destination for national and international investments and as a leader in aerospace and defence sector," he said. "We will leverage the advantages of our local resources and institutions with unmatched industry friendly governance," he added. KCR, as the chief minister is popularly known, said he had already announced an effective single window system which will be monitored in his office through a special chasing cell, planned as a special purpose vehicle under Information Technology and Investment Region (ITIR) Authority. "All departments who have to give clearances for setting up of industries will be held to a strict timeline for review and approval of investment proposals. There will be no need for entrepreneurs to run around multiple offices and human contact will be minimized," he assured the investors. KCR said a new industrial policy would be announced soon after consultations with industry associations like Confederation of Indian Industry (CII) and Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI). The chief minister said their goal was to make "Made in Telangana" label a globally recognized brand for quality and innovativeness. With IANS
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