Industry Hopeful of Business Continuity, Innovations

Hyderabad: Even as the newly formed government led by chief minister A Revanth Reddy announced the new Cabinet, the industry community is hopeful that business continuity and innovation will be the key focus. It is also hopeful that some of the existing wriggles will b ironed out soon.

Welcoming the new government, industry body Confederation of India Telangana chairman C Shekar Reddy, said the incoming governments in United Andhra Pradesh and the new State Telangana have always continued the good work done by the previous governments and also brought in new innovations. “We expect business continuity to be the theme with Revanth Reddy’s team, which has many experienced members,” he said. Senior member D Sridhar Babu will be at the helm of IT, industries and commerce ministries.

“We are positive about the approach the government will take towards industries, which is seeing an increased demand for power. I think there will be increased focus on renewable energy, dependable supply to industries, further thrust to the pharmaceuticals, expanding transport networks and continuing to nurture the start-up ecosystem,” he said.

Rakhi Kankaria, chairperson, tourism committee of industry body FTCCI, said granting an industry status to tourism will aid in employment creation, boost revenues, and push infrastructure creation in the state. “We hope the new government will bring a new tourism policy that will focus on developing rural tourism,” she said.

Ramakant Inani, past president, FTCCI, said all appeals related to lands pending before the revenue tribunals and writ petitions pending before the High Court should be addressed on a priority basis.

K Koteswara Rao, convenor, All India Forum for Small and Medium Industries, is hopeful that the MSME sector, which was one of the neglected sectors, will find favour from the new government. “MSMEs have potential for large scale employment generation. The sector did not get the deserved incentives for years. We are optimistic that the new government will make appropriate budget allocations,” he said.

Even as various reports suggest that the real estate in Hyderabad and surrounding areas is poised to reach new highs, real estate industry body Credai Hyderabad president V Rajashekar Reddy said that the new government should focus on finalising the masterplan. This will give a new thrust to the real estate sector. “There should be increased connectivity to the Outer Ring Road as this will aid in creating new industries and employment opportunities,” he said.

“This is a new opportunity for inclusive growth and employment generation. Focus should be on industrial clusters and give thrust to entrepreneurship. There should be incentives for training, setting up industries in labour-intensive segments. Formal credit channels should be enhanced and there should be a purchase preference for local industry,” said K Rama Devi, president, Association of Lady Entrepreneurs of India.

( Source : Deccan Chronicle. )
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