The government of Telangana has implemented a new industrial policy called TS-iPass to welcome investors to the state. K Taraka Rama Rao, the IT, Industries and MAUD Minister, discussed the policy during his visit to Mahbubnagar on Thursday. The minister highlighted the success of the policy in attracting industrial investors, creating jobs for thousands of people and generating revenue for the state.
The minister stated that providing jobs for the entire population through the public sector is impossible. Therefore, the government is inviting industries and new investors to establish their plants and units to create more jobs in the private sector. The SGD Croning company is being built at a cost of Rs. 500 crores and is expected to provide jobs for 1500-2000 people in the region.
Mahabubnagar has become a hub for various job opportunities due to recent projects such as the IT Park and the upcoming Amar Raja Lithiom Ion batteries company. The IT Minister revealed that Telangana State is home to 9 billion vaccine manufacturing biotechnology industries supplying vaccines to the world.
The new industrial policy of the government, TS-iPass, allows companies to get all permits within 15 days and set up their units with self-certification. This kind of industrial policy has rolled out a red carpet for companies to invest in the state.
India has 59 lakh jobs for a population of 142 crores, while Telangana State has only 6.5 lakh jobs for a population of 4 crores. Therefore, attracting more investors to set up their units in the state will create more employment opportunities and more people will get jobs.