Hyderabad : In the last seven and a half years, Telangana has been extremely successful in attracting lots of investments from the United States and Europe as well, said IT and Industries Minister KT Rama Rao.
KT Rama Rao addressed the industry leaders at the German Investors’ Summit held at Taj Krishna in Hyderabad on Tuesday. Walter J Lindner, German Ambassador to India, German counsel general Karin Still, Stefan Halusa, Cyient Founder and executive Chairman, executive chairman BVR Mohan Reddy and Principal Secretary Jayesh Ranjan participated in the Summit.
In the presence of Minister KT Rama Rao and Walter J. Lindner, German Ambassador to India, Government Of Telangana and LiteAuto GmbH signed an MoU. According to the MoU, Liteauto GmbH will invest Rs. 1,500 crore in Telangana to establish an advanced design & manufacturing facility.
Rama Rao, while talking to ANI, stated that as part of attracting more investment to Telangana, a number of sessions have been held with various nations. Last month, an interactive session was held with the French investors, followed by the German investors this month. He said that he was delighted to host ambassador of Federal Republic of Germany Walter J. Lindner. “More than 30 enterprises which have roots in Germany have joined us”, the Minister said.
“Delighted that we could explain to them the various facets of attractiveness when it comes to investing in Telangana including our single-window clearance model which promises all clearances in 15 days. Deemed approvals, self-certification, attractive package of physical incentives, but more importantly deeper engagement and partnership that Telangana offers”, he said.
KTR said, in the last seven and a half years, Telangana has been extremely successful in attracting lots of investments from the United States and Europe as well. Even in Covid pandemic times, the government of Telangana hopes to attract substantial investment. The make in India campaign which the Central government talks about is also very attractive to overseas investors.
“Post-Covid world, it’s very important from the organisational perspective to have different manufacturing locations as companies have started looking beyond China. Thus, India will be a very important destination for investment and I firmly believe that in India, there are few states that can compete on a global scale to attract these investments. Telangana certainly is on the top to compete- be it the availability of land, water, power or physical incentives or train, manpower or good connectivity to the rest of the world,” the Minister said.