Industrialists welcome new TS industrial policy

Hyderabad, Nov 28: Telangana's new industrial policy framework is providing a new direction to the government to attract investments to the state, feel industrialists. The policy, which focuses on minimum inspection and maximum facilitation for industry, is a welcome step, industrialists said. The system of project approvals and self-certification for industry through legislation is bound to be a path-breaking initiative of the state government, they said. Fourteen thrust areas including life sciences, information technology, precision engineering and food processing have been identified in the new policy that was unveiled on Thursday. This will surly accelerate the industrial development in Telangana, said Confederation of Indian Industry Telangana Chapter (CII-T) Vice-Chairman Nrupender Rao. Telangana government is keen on encouraging industry and as such has allocated Rs 1165 crore for Industry and Commerce Department in the budget for 2014-15. This is a significant improvement over the previous budgets, said Rao.