The Government of Telangana unveiled its new industrial policy today (June 12th) which focuses on time-bound approvals for setting up ventures in the state.
As per the new industrial policy, Telangana State Industrial Project Approval and Self-certificate System (TS-iPASS), reformatory move will be made against government authorities if there is any undue postpone in preparing applications, Telangana Chief Minister K. Chandrashekar Rao said.
Rao said his office would have a chasing cell to monitor the progress of different propositions, while exhibiting the features of the policy.
The policy was announced in the presence of big businessmen like Yogi Deveshwar of the ITC Group, G M Rao, G V Krishna Reddy and B V Mohan Reddy.
Giving a support to the state’s newly introduced industrial policy, ITC Ltd has committed to investing Rs.8,000 crore. It will build a food processing park, a new hotel and double the capacity of its Bhadrachalam paperboard manufacturing plant.
“The faster you give us proposals, the faster we will deliver to you a world-class Food Processing industry,” Yogi Deveshwar told Rao.
