Clearly in catch up mode, a delegation from the newly formed state of Telangana recently went all out to attract investments from the US. Led by Jupally Krishna Rao, Minister of Industries, Telangana senior state officials had a series of meetings in Washington, DC for the purpose of scouting partners and investments.
The meetings were arranged by the US India Political Action Committee (USINPAC), a bi-partisan non-profit organisation reportedly representing 3.2 million Indian-Americans. The Committee works to impact policy on issues of concern to the Indian-American community in the US as well as with various State Governments in India to promote investment in the country.
The Telangana delegation had a packed schedule and also a session on trade promotion with a large number of senior corporate and investor representatives, from defence, health care, distribution/logistics, IT and private equity.
These interactions were met with very serious interest in the states health and genome sector, besides IT and defence. Encouraged by the positive business environment and opportunities in Telangana as highlighted by the delegation, some of the key participants at the meetings, especially from the aerospace and life sciences industries, informed that they are now considering a follow-up visit to Hyderabad in the coming months to pursue some specific partnerships and MoUs either with the state government or with the private industry.
In addition to Jupally Krishna Rao, the officials from Telangana comprised of Pradeep Chandra, Special Chief Secretary (Finance), Narasimha Reddy, Vice Chairman and Managing Director, Telangana State Industrial Infrastructure Corporation, and Shakthi M Nagappan, Chief Executive Officer, BioAsia promoted by the Industries Department. Rao expressed confidence of the young state and reiterated transparency and investor friendly procedures to expedite investments into the state. He also highlighted his government’s commitment to zero tolerance on corruption and promised that the procedures will go beyond single window system to enable clearances for maximising productivity and minimising turnaround time.
Sanjay Puri, Chairman, USINPAC who coordinated the entire proceedings termed the session as productive and fruitful.
Source: Financial Express