Hyderabad: IT and Industries Minister, K T Rama Rao emphasized that boosting the industry sector is crucial for the state’s economic prosperity.
He laid the foundation stone for the Amara Raja Lithium Ion Battery Company in Divitipalli, near the district headquarters. The project is built on 270 acres of land, and the Amararaja Group has invested approximately Rs 9500 crores.
Speaking at the event, KTR stated that this is the most significant investment in lithium-ion battery production in India. He emphasized that for an industry to prosper, dedication and perseverance are essential in today’s competitive world. The minister also highlighted that the state is moving forward with transparent governance, free from corruption.
Minister KTR informed that the Amararaja Group could have set up its plant anywhere in the country, but they chose Divitipalli. After announcing their decision, the CMs and Ministers of eight states contacted them and invited them to their respective states. Still, the Amararaja Group expressed willingness to start the plant in Telangana.
KTR emphasized that Indian states compete on international platforms to attract private sector investment by providing good incentives, sufficient electricity, water, and land. He further added that youth is the state’s greatest strength, with a population of 70 crore below the age of 27 years. Therefore, inviting private sector investments is essential to provide employment opportunities to all, as not all youth can secure government jobs.The Minister also highlighted that the establishment of the Amara Raja unit would create direct and indirect employment opportunities for around ten thousand people. Hyderabad’s IT sector had employed around 3.23 lakh people when the state was formed, and now it has grown to directly employ 10 lakh people, leading to several employment opportunities in the region. (INN)