New industrial policy will help districts grow: Telangana IT Minister K T Rama Rao

“The incentives include seed capital investment for first generation entrepreneurs, reimbursement of VAT, stamp duty, land cost rebate and land conversion cost, power cost reimbursement, training and skill development cost reimbursement, additional incentives for SC/ST, women and physically challenged entrepreneurs,” said IT minister K.T. Rama Rao on Friday.

The incentives will be applicable to industries set up on or after January 2015 and before March 2019. “The growth will not just be confined to Hyderabad, it will also spread to other districts given the kind of allotments and opportunities for local youths,” he said, adding, “Industrialists are quick in taking decisions to establish their companies, hence our self certification has been designed accordingly with the moto of minimum inspection and maximum facilitation.”

With Hyderabad already progressing towards being a global destination for IT industry, the current thrust areas of the TS government are life sciences, IT hardware, aviation and food processing, he said.