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An industrious idea

Chief Minister K Chandrasekhar Rao unveiled the Telangana Industrial Policy 2015. He has worked overtime to draft this game-changing policy.

India has always fared low in business rankings, worldwide. One reason for this has been bureaucratic red tapism. Several projects had their blueprint and funding ready but have been delayed due to reasons mostly governmental and regulatory in nature. Little wonder, the World Bank’s “Doing Business Ranking” places India at 142 on the global list of countries where doing business is uncomplicated.

The long hauled process of applying for mandatory regulations, registering the company and commencing business activity is a struggle by itself. Several industrialists I have spoken to, have made it clear that the selective application of rules, lack of coordination between regulatory bodies and the inordinate delay in getting approvals even when the processes are followed, are the reasons why there isn’t economic growth in the way it should be.

The Government of Telangana too, has taken a leaf out of Modi’s “Make in India” and created its own programme called “Make in Telangana.” But here, the state government has gone bit further by not just emulating the “Single Window Clearance” programme but taking the idea to the next level. Recently, Chief Minister K Chandrasekhar Rao unveiled the Telangana Industrial Policy 2015 in Hyderabad . The meeting was attended by more than 2000 industrialists from different sectors. Rao stated that industrial growth is the way forward to develop the state. He has worked overtime to draft this game-changing policy.

Let us have a look at what it has to offer:

•    At the heart of the policy is TS-iPASS (Telangana State Industrial Project Approval and Self-certification System) that calls for penal action against officials for delays in processing the applications. Mega projects would get permissions in 15 days. If the regulatory authority doesn’t respond to the application within the given time frame, the project is deemed to be approved.

•    The official concerned would be made responsible for any delay in processing the application and will be personally fined Rs.1000 per day.

•    The government has identified 14 core growth areas for focused approach, which includes sectors like life sciences, pharmaceuticals, information technology, aerospace, automobiles, textiles, minerals and transportation/ logistics.

The government has also created a bouquet of auxiliary benefits that would aid for the growth of industry. It has transferred a land bank of 1.5 lakh acres to the Telangana State Industrial Infrastructure Corporation (TSIIC) for attracting investments. The government has launched a slew of initiatives like the T-IDEA Scheme (Incentives for setting up of New Industrial Enterprises), T-PRIDE Scheme (Special benefits for SC/ST entrepreneurs), Industrial Investment Promotion Policy (IIPP) for EOT Period Micro and Small Enterprises and Textile Units, Women Entrepreneurs’ Programme, Solar Policy Cell and more. Along with this, the government is working to strengthen the higher and technical education system in the state to provide skilled human resources that are readily employable. Industrial growth has always led to rise in employment opportunities and this policy will lead to job-creation in the state.

 The efforts have already borne fruit. Y V Deveshwar of ITC Ltd. speaking at the event said: “we want to put our money where our mouth is and we are going to invest Rs 8000 crore on the strength of the vision you and your team have displayed.” B Harini, Director of the Prathima Group, a Telangana based conglomerate with interests in health, technology and power said: “we wish to invest more in the region and set up world-class medical facilities in all the districts of the state.”

On the whole, the new industrial policy of Telangana is a positive and welcome step.

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