Telangana to be most preferred technology investment destination
| Tuesday, January 26, 2016 - 16:58
Hyderabad: Telangana has conceived a unique Information and Communication Technology (ICT) policy to make the state the most preferred technology investment destination in the country, Governor E.S.L. Narasimhan said on Tuesday.
In his address at the main Republic Day celebrations at Parade Grounds here, he said that the youngest state of India is seen as a global investment destination given its progressive policies in infrastructure and power.
Narasimhan, who is the governor of the two Telugu states, rushed to Hyderabad after unfurling national flag and reviewing the parade at the main celebrations at Vijayawada in Andhra Pradesh.
Chief Minister K. Chandrasekhar Rao, his cabinet colleagues and top officials attended the ceremony.
The governor pointed out that Telangana has notched up IT exports of Rs.68,258 crore with as many as 1,300 companies including 500 global firms having their operations.
The IT Infrastructure Region (ITIR) being promoted with the central support in and around Hyderabad is geared up to generate IT exports of Rs.235,000 crore eventually with a projected direct employment of nearly 15 lakh and indirect employment of nearly 53 lakh. This may fetch additional tax revenue to the state of over Rs.30,000 crore.
The state launched T-Hub, the largest startup incubator in the country, with 70,000 square feet space in Hyderabad. The second phase with an investment of Rs.150 crore and built up area of 3 lakh square feet is scheduled for rollout by the end of this year.
Under its investor friendly initiative TS-iPASSs, the state has attracted Rs.25,000 crore investment by permission for setting up of 1,013 industrial units with employment potential of 75,000.
Narasimhan pointed out that Hyderabad accounts for 20 percent of India's total pharma exports. The government plans to set up new pharma city with public private partnership to cement the state as a leader of pharma sector.
Several mega industrial programmes like Hyderabad-Warangal industrial corridor and textile hub at Warangal were initiated to kickstart the economy and enhance employment opportunities for youth.
He said the state created a landmark with a budgetary outlay of more than Rs.1.15 lakh crore for 2015-16 with a plan allocation of more than Rs.52,000 crore. Under this, the per capital plan allocation has doubled compared to financial year 2013-14.
The government is spending Rs.43,000 crore exclusively on welfare sector. "This testimony of the commitment to significantly improve public spending for the development of the state," he said.
He said the government through its policies and strategies ended chronic power deficit and made the state free from bane of power cuts. The goal is to make available 25,000 megawatt of additional power.
Mission Kakatiya, one of the flagship programmes, is aimed at reviving 45,300 irrigation tanks with an outlay of Rs.22,500 crore over next five years.