The persistent efforts of the previous BRS government in Telangana have finally come to fruition. Japan International Cooperative Agency (JICA) has entered into a loan agreement with Telangana to promote grassroots innovation. An official announcement was made by both Indian and Japanese officials in this regard in New Delhi today.
Sharing the news on ‘X’, former IT & Industries Minister KTR said, “Glad that something that we’ve been working on for a few years has finally come to fruition. For the first time after the state formation, Telangana has entered into an ODA loan agreement for Rs. 1700 crores with the Japan International Cooperative Agency (JICA) to strengthen and promote its grassroots and social innovation ecosystems across 33 districts of the state.”
This is the first investment of JICA in the startup sector after it expressed interest in fostering startups and entrepreneurial culture in India. It is worth noting that the JICA delegation has visited Telangana’s innovation ecosystem in 2019. The proposed investment will be a big boost to the rural innovators in the state.