Hyderabad: Talking about progressive investment policies and sector-specific industrial parks being set up in Telangana, IT minister K.T. Rama Rao invited South Korean industry leaders to set up shop and collaborate in various fields with the youngest state of India.
The minister, along with Mr G. Vivek, advisor to the state government, and Mr Jayesh Ranjan, Principal Secretary, IT and Industries departments are on a two-day tour to South Korea. The delegation met with Mr Nam Geunho, EVP, Hyundai Corporation, in Seoul where he explained the various investment opportunities in Telangana and gave an overview of the TS-iPASS single-window clearance initiative for investors.
In a meeting with Mr Choi Dong Jin, Executive Director, and representatives from Korean Mobile Internet Business Association (MOIBA), the Minister invited them to attend the World IT Congress being held in Hyderabad.
Two agreements were signed by the Government of Telangana — one with MOIBA and the second one with JCCIA. Both agreements aim to collaborate in AVCGI, Artificial Intelligence, Virtual Reality, Augmented Reality, Internet of Things and the Electronics manufacturing sector.
The Minister explained the state’s Digital Telangana initiative and how it is planning to connect every home with the FiberGrid network. The Minister invited Korean AVCGI companies to invest in the Game Tower.
Mr.Rao met Mr Kihuk Sung, Chairman, Youngone Corporation, at Seoul. Young One Corporation, which manufactures popular ‘The North Face’ brand garments, announced USD 300 million investments in Kakatiya Textile Park.
The delegation held a series of meetings in Daegue Metropolitan City which is also known as ‘Textile City’ and is home to several textile, fashion and high-tech industries. The Minister spoke about the upcoming Kakatiya Mega Textile Park at Warangal.
The Minister said, “Telangana, with all its advantages, is an ideal destination for textile manufacturing companies.”
He invited the Daegu Automotive Industry representatives to visit Telangana state and evaluate investment opportunities and chances of collaboration in textiles, futuristic automobiles and IT.
