Information Technology Minister K.T. Rama Rao made a strong pitch for Telangana before the investors as he underscored that the State was occupying a pole position in terms of ease of doing business.
He was speaking at the U.S. India Business Council’s ‘Foundations of Innovation’. Describing the State as the most ‘aggressive’ and ‘progressive’, Mr. Rao said the Telangana State Industrial Project Approval and Self Certification System gives ample flexibility for enterprises to do business.
Terming Hyderabad the sought-after tech destination, he said if a company shared with the State government an offer it has received from other States, he would “either meet it, or beat it”.
He said unlike any other State, Telangana offers self regulation for industries in terms of seeking permissions. “We have taken our system from a person-driven one to a process-driven one. We have institutionalised a number of changes through legislation,” he said, adding that the State “means business”.
He said the Centre’s Department of Industrial Policy and Promotion and the World Bank had jointly ranked Telangana first in the country in terms of ease of doing business.
The U.S. India Business Council president Nisha Biswal said so far, there were around 600 U.S. companies that invested in India and that would grow to 6,000.
“This is where we want to go. That is to increase the two-way investment trade between our two countries. The GES is a fabulous way to showcase the entrepreneurial spirit that is present in both of our societies. And for the USIBC, our job is to be there for you, to be able to help unleash the potential,” she said.
Source: The Hindu