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Will Set Up Industries In All Backward Areas: KTR

Minister K T Rama Rao today said that the state government would soon set up industries in all the backward areas of the state to aid growth.
Hyderabad | 23rd March 2021
Telangana IT and Industries Minister K T Rama Rao today said that the TRS government would soon set up industries in all the backward areas of the state to aid growth in the areas. He added that it would prioritise the decentralisation of the industries.

Speaking at the Telangana Assembly during today's Question Hour, Rao flayed the BJP-led Centre for allegedly "failing" to provide incentives for the growth of industry in the state which had been promised in the Andhra Pradesh Reorganisation Act, and demanded that it provide the same "at least this year".

The minister also responded to the queries raised by various MLAs regarding the role of the TS-iPASS scheme in helping industrial growth in Telangana. He told them that a total of 15,326 industries had been able to set up shop in the state in the last six years because of the scheme, and that a total of 11,954 industries had already commenced operations.

"We have attracted Rs 2,13,431 crore worth of investments under the TS-iPASS so far. We had promised the people of the state that a total of 15,52,672 jobs would be created through the investments. 7,67,829 people have already found employment because of the scheme. Unlike the Centre's Aatma Nirbhar Bharat program, which has not helped the state in any way, our schemes for industrial growth have had palpable effects on stimulating growth in Telangana," KTR added.

The minister has indeed been actively involved in attracting investments to the state. The newest in a long series of significant investments was that of the Massachusetts Mutual Life Insurance Company. Earlier this year, the company announced that it had chosen to open its first overseas branch in Hyderabad. This was a welcome decision since the US-based life insurance giant will reportedly be investing over Rs 1,000 crore in its Hyderabad office, and will employ a large number of youth soon. It has already hired 300 people. MassMutual's decision to invest in the city came shortly the decision of MOURI Tech Global Enterprises, a US-based business, to invest Rs 500 crore in the two Telugu-speaking states.
filed in:  Telangana, K T Rama Rao, Development, Industry & Business
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