Hyderabad: IT and industries minister K.T. Rama Rao on Monday said that TS was racing ahead in industrial development and is poised to be among the top three industrial states in the country soon. He was addressing industry leaders at FICCI national executive committee meeting here on Monday.
Mr Rao said TS started as a power-deficit state two years ago but could overcome the problem within six months thanks to policies adopted by its CM.
“When AP was bifurcated and TS formed two years ago, there were lot of apprehensions over the new state, doubts whether the new state would be viable and about the continuity of business environment and policies. We started as a power-deficit state where power holidays were common for industries. Those were the days when industrialists used to sit on dharnas demanding lifting of power holidays. But thanks to focussed approach of our CM from Day-1, we could overcome power problem within six months. Now we are in a position to supply uninterrupted power to industries, which only a few other states in the can,” Mr Rao said.
The minister stated that the Rs 30,000 crore investments coming into the state within a year of the launch of its new industrial policy was proof of the confidence and interest that TS has generated among investors and entrepreneurs across the globe.
“We could attract multinational giants like Amazon, Apple Inc, Ikea to Hyderabad in these two years. With Apple, Hyderabad became home to four of the top five of the most-valued tech companies,” Mr Rao said.
He said the government was Rs 4,800 crore revenue from the mining industry this year against Rs 2,700 crore last year. “With respect to sand mining, major and minor minerals mining, we have a well-drafted mining policy,” Mr Rao said, replying to a query in the FICCI meeting.
