Telangana to shine in IT sector despite currency ban, says KT Rama Rao

Hyderabad: Optimistic of a bright future for the IT and industry sectors in the state in 2017, IT minister K.T. Rama Rao on Monday said demonetisation will impact some proposed projects but it will take time to assess “negative impact.” “Post demonetisation scenario may slow down the proposed Warangal and Sircilla textile parks. On the other hand, banks are flush with cash now and are ready to extend huge loans. There will be fresh infusion of capital. The problem is the same in all the states,” Mr Rao said.

The TS government has planned the country’s largest textile park in Warangal and Sircilla Textile Zone in Karimnagar. Replying to short discussion on TS iPASS and EODB, the minister said government would continue to give a big push to IT and industry sectors, saying it would promote IT in Adilabad, Nizamabad and Khammam apart from Warangal and Karimnagar.

Receiving compliments from both ruling and some Opposition members, Mr Rama Rao asserted that the government will promote industrialisation not only in Hyderabad but also other major towns. “The CM has directed us to focus on ancillary units, agro industries and automobile sectors. To ensure transparency and accountability, we have 113 online services in 22 departments. Due to TS iPASS, we got 2,929 industries with investment of Rs 49,463 crore. There is direct employment to 1.95 lakh people and indirect employment to another 3 lakh. In all employment will be provided to about 5 lakh persons,” Mr Rao said.

He said commercial production has begun in 1,138 units while construction of 405 units is on. “We expect all the 1,543 units to start commercial operations soon. In the past 2.5 years, the state received investment of Rs 75,000 crore,” he said.