Telangana has a huge potential of delivering high returns on investments in many sectors, including agriculture, information and technology, pharmaceutical and textiles, among others, said IT and Industries Minister KT Rama Rao on Monday.
Delivering the keynote address at the inaugural event of “Telangana Investment Meet” through webinar, the Minister urged Saudi businessmen to invest in India’s youngest State that offers opportunities in diverse fields. “The ease of doing business policies of Telangana led to the establishment of several multinational companies in the State,” he pointed out.
Prominent Saudi businessmen, NRI entrepreneurs and a section of top Saudi officials are participating in the two-day event organised jointly by the Indian Embassy in Riyadh and the Telangana government.
Stating that the TS-iPASS is a certification service to establish industries in the State within 15 days, he said: “Telangana is the only State in the country to grant all approvals in the fastest time frame.
Amazon has the largest warehouse in Telangana, which is larger than their headquarters, and all these permission were granted within 11 days,” Rama Rao said, adding that Google, Apple and many other giants chose the State as their preferred destination owing to the government’s investor-friendly policies.
The Minister said it is not only the IT and industrial that is growing exponentially but also other sectors such as agriculture, textiles and pharmaceutical which have a lot to offer to investors.
Rama Rao said a food park that was established in Nizamabad is one of finest examples of the State as a destination for diversified portfolio investments.