“I call my state the most successful start-up state of India… within a very short span of less than nine years, Telangana today has delivered so many things, which are truly remarkable,” said K.T. Rama Rao, Minister for Municipal Administration and Urban Development; Industries and Commerce; and Information Technology, Electronics and Communications for the southern Indian state of Telangana.
The newest state of India will be marking its ninth birthday on June 2 and ahead of that, the minister was on a tour of the UK to showcase the state’s many attractive investment credentials.
Addressing a roundtable at the Indian High Commission in London, Rao highlighted Telangana's progressive industrial policy and revolutionary single window system, TS-iPASS, which is claimed to streamline investment processes and reduce bureaucratic red tape. The state's robust ecosystem for electronics, aerospace and defence, food processing, mobility, and textiles sectors also featured during a presentation to pitch the southern Indian state as a lucrative investment hub for UK companies.
Academic collaborations with King's College London and Cranfield University were flagged alongside the announcement of a memorandum of understanding (MoU) with the London Stock Exchange Group (LSEG) for the establishment of a Technology Centre of Excellence in the state capital of Hyderabad. It is expected to generate around 1,000 new jobs and enhance collaborations in the field of tech.
“Last year out of the 450,000 jobs in technology that were created in India, 150,000 were in Telangana and 146,000 were in Bangalore. So that goes to show that Hyderabad is a fast mover, fast learner, and it is growing rapidly, more rapidly than any other state in India in technology,” the minister said.
MORE LIKE THIS…
His presentation to potential investors in the UK emphasised that Telangana's economy is growing at a brisk pace, backed by rapid industrialisation.
During his address, Indian High Commissioner to the UK Vikram K. Doraiswami praised Hyderabad for its world-class infrastructure and multicultural environment, making it a perfect destination for global investors.