Hyderabad: IT and Industry Minister KT Rama Rao on Wednesday said Telangana State was keen on attracting large-scale investment from South Korean companies and was prepared to set up an exclusive cluster for them.
He provided full assistance to interested companies and also clarified that a number of multinational companies have invested heavily in the State, taking advantage of its extremely popular industrial policy.
At a virtual conference organised by the India Korea Business Forum, the Minister gave an overview of Telangana State’s progressive industrial policy and described it as the best in the world.
“The state has a marquee industrial strategy, TS-iPASS, which has gained international reputation and over the past six years has drawn more than USD 30 billion in investment to the state,” he said.
Several multinational corporations, including the South Korean textile major Youngone, have advanced to invest in the state, while the state government has also signed a Memorandum of Understanding with the Gwangju Medical Devices Park in South Korea to share expertise with them.
Likewise, automotive major Hyundai is also expanding its activities in the province. We are ready to roll out the red carpet for South Korean investors, ”he said.
The Minister clarified that if they were keen on setting up their businesses, the state government was prepared to set up an exclusive cluster for South Korean companies.
The establishment of such an exclusive industrial cluster for Korean companies will allow the authorities to provide them with all the necessary facilities, he said, and urged the Ambassadors of India and South Korea to extend their support to the State in this regard by facilitating visits to the State of Telangana by South Korean investors.
Rama Rao further clarified that not only did the state have steady leadership, but that it was also rich in terms of both raw materials and human capital.
Although industries do not need to worry about water , electricity and other resources, he said, the state government was also prepared to assist in recruiting skilled workers by providing them with the requisite training in the required field.
Principal Secretary for IT and Industries Jayesh Ranjan was also present. (INN)