Promising to bring out a new Industrial policy soon and pave way for hassle-free setting up of new international businesses to set up their shop in the State, Telangana Chief Minister K Chandrashekhar Rao today said a special purpose vehicle under ITIR authority will give all clearances at one go. This will help the investors to avoid running from one department to other and ensure a speedy delivery of what they can get from the department under his CMO purview.
Inaugurating the Rs 500-crore worth Aerospace project here, the Chief Minister extended total support to the Tata company foraying into aerospace domain. Hyderabad is now being the destination for aerospace development domain with noted Tatas setting up their business here, KCR said. The Chief Minister opined that the intention is to make “Made in Telangana” label as a globally recognized brand for quality and innovativeness. “I am grateful to Tata group for becoming our brand ambassadors”, he said, adding that Hyderabad will be favorite destination. “My government will offer a competitive incentive package for future investors in the State. The new industrial policy will be announced only after due consultations with all stakeholders such as CII, FAPCII and MSME Industry associations”, he added.
KCR said his State has the unique advantage of having a large number of research organizations and laboratories, including DRDO, DRDL, Midhani, BDL, Research Center Imarat, BEL, HAL and Ordnance Factory. It provides a strong base for collaborative research between manufacturers of components and researchers of aero-space technologies. “It is our endeavor that the State of Telanganan should emerge as the favorite destination for national and international investors and as a leader in the aero-space and defence sector”. He said he is delighted to be participating in the groundbreaking ceremony of one of the new investments being made in Telangana by Tata Advances Systems collaborating with RUAG. “We will leverage the advantages of our local resources and institutions with unmatched industry friendly governance”. Trying to woo the businessmen, industrialists and investors, KCR said an effective single system will give all clearances pertaining to setting up a business with a special purpose vehicle under the ITIR authority under his purview.
Tata Advanced Systems Ltd (TASL) Chairman S Ramadorai said. “It is our belief that this project is a significant step forward in India’s growth as a high technology, precision, manufacturing destination. Ruag has entrusted the Tatas to deliver its showcase product, the Dornier 228, at world-class standards of precision and quality”. The Tata Group aims to bring out a fully built aircraft for Ruag Aviation – makers of Dornier 228 new generation aircraft, parts of which are to be made in India by TASL. The Ruag project is the fourth Aerostructures unit to be set up by TASL since 2009 in Hyderabad and the products of all the units are 100 per cent exported.(NSS)
