Telangana govt sets record with new industrial policy, clears 17 projects worth Rs 1500 crore in 10 days

Telangana Government, which declared a bold industrial policy on June 12 that promised to clear project proposals within a fortnight, has cleared the names of 17 companies which sought permission to invest in the state within 10 days of applying.

Written by Sreenivas Janyala | Hyderbad | Updated: June 22, 2015 10:33 pm
Telangana Government, Telangana,  K Chandrasekhara Rao, telangana industrial policy, latest news Chief Minister K Chandrasekhara Rao

Telangana Government, which declared a bold industrial policy on June 12 that promised to clear project proposals within a fortnight, has cleared the names of 17 companies which sought permission to invest in the state within 10 days of applying. Chief Minister K Chandrasekhara Rao will sign and release the requisite documents to representatives of these companies Tuesday afternoon.

Delivering on its assurances and promise that under its novel, innovative and business-friendly industrial policy `Telangna State Industrial Project Approval and Self-Certification System (TS-iPASS), that permissions and licenses would be given within 15 days, and if permission is not given then it is deemed to have been given, the Government cleared the applications of the these 17 companies in record time. These 17 companies will invest Rs 1,500 crores and will create about 4,000 jobs, an official said.

Some of the companies which have been given clearances are ITC Limited, Anjani Portland Cement Ltd, MSN Life Sciences Private Limited, Sneha Farms Ltd, Aizant Drug Research Solutions, Pioneer Torsteel Mills Ltd, Solithro Private Ltd, Covalent Laboratories Pvt Ltd, EPR Centre for Cancer Research and Bio-Informatics Pvt Ltd, Bhavna Solar, Premier Photovoltaic Pvt Ltd, Usha Ventures Pvt Ltd, Value Labs, Dodla Dairy Ltd, HIL Ltd (Plastics), Duraline India Pvt Ltd (Telecom), Nuzen Industries Pvt LTd. ITC with an investment of Rs 800 crores in a food processing unit in Toopran Mandal in Medak district is the biggest investor among these companies.

According to Telangna State Industrial Project Approval and Self-Certification System, penal action will be taken against government officials if they are found to have delayed the processing of applications. “The process to clear project proposals is quick, transparent and time-bound. For investors, there is a right to clearance clause in the policy and a 15-days timeline to give clearances to mega projects of Rs 200 crores and above, and 30 days for all other projects,’’ says Arvind Kumar, Secretary, Industries.

The Telangana Government has set aside a land bank of over 1.30 lakh acres of non-agriculture land to be allotted to investors and companies bringing in projects. “Since this land is not suitable for agriculture, there are no hurdles created by anyone over land. The Government has also reserved 10 per cent water from all irrigation sources for industry,’’ an official said. A penalty of Rs 1000 per day would be levied on government officials who delay projects beyond the time limit of 15 days.

“The fact that the state can be held accountable for delays has given lot of confidence to investors and industrialists. No one expected this kind of a policy could be possible in the country,’’ says IT Secretary Jayesh Ranjan who pushed for the penalty clause.

For all the latest India News, download Indian Express App

    Live Cricket Scores & Results