Industries in Telangana feel that the just-announced industrial policy framework has provided a new direction to the government to attract investments in the state.
The policy focused on minimum inspection and maximum facilitation for industry is certainly a welcome step, the industry said, which also pointed out that project approvals and self-certification system for industry through legislation would be path-breaking initiative of the Government.
The policy, unveiled yesterday, has identified 14 thrust areas.
"The thrust sectors including life sciences (including bulk drugs), information technology, precision engineering, food processing, automobiles and textiles would accelerate the industrial development in the new state of Telangana," Confederation of Indian Industry Telangana Chapter Vice-Chairman Nrupender Rao said.
The Government of Telangana is keen on encouraging industry which can be seen by the fact that the budget for 2014-15 has allocated Rs 1165 crore for Industry and Commerce Department which is a significant improvement over the earlier budgets, added Rao, also Chairman of Pennar Industries.
From the MSME perspective, the policy has decentralised the procedure for issue of licenses and permissions to Micro enterprises at the level of Industrial Promotion Officers and it would certainly reduce the time for getting necessary clearances, he felt.
The policy has also ensured marketing assistance to participate in national and international trade shows for micro and small scale industry.
"Allocation of 10 per cent of water from all existing and new irrigation sources is an excellent step to cater to the water requirement of industry in the state.
It is laudable that the Government of Telangana has announced special packages for scheduled castes, scheduled tribes and women," Rao added.
