Now that the Telangana Rashtra Samithi government is in their third year in Telangana, the party is eager to showcase the state as a destination for business opportunities. With this aim, the governemnt is planning to host a Global Investors Meet (GIM) here in January next year.
The government is hopeful of attracting over Rs. 10 lakh crore investments from the event which the first of its kind in the newly-formed state.
In January 2012, under the Congress government, headed by N Kiran Kumar Reddy, there was a Partnership Summit during which MoUs worth over Rs 6. lakh crore were signed. However, hardly any of them were materialised due to the political uncertainty owing to the Telangana statehood agitation.
“There is no political uncertainty now. There is a stable government in place. We have also introduced business and investor-friendly policies wherein approvals are being given on self-certification basis. A huge land bank of nearly 10 lakh acre has been readied. We are confident that the Telangana government's policy of minimum inspection and maximum facilitation will work wonders and attract investments never witnessed earlier,” the state Information Technology Minister KT Rama Rao said.
He added that “We are keen to attract global investments in a big way. Already, Hyderabad has emerged as the most favoured destination for a variety of sectors."
“Our new industrial policy has already attracted huge national and international attention. Several bigwigs have come forward with investment proposals and many big projects are in the pipeline,” he said.