Hyderabad: Continuing to attract investments due to its industry-friendly intiatives, the State government is now targeting investments aimed at generating large scale employment. About 80 per cent of 11,569 companies which received approvals for establishing their units through TS-iPASS, commenced operations in the past five years and providing employment to over six lakh people.
“Special emphasis should be laid on companies from textile, electronics, food processing and other such priority sectors which can generate large scale employment. Officials must set targets to attract investments within a fixed timeframe,” said IT and Industries Minister KT Rama Rao, in a review meeting with the officials of IT and Industries department on Tuesday.
The Minister pointed out that due to pro-active policies of the State government, many major companies have established their units in the State, while several others have signed memoranda of understanding for setting up their units. Textile sector which was identified as a priority sector, witnessed large scale investments which can generate massive employment. Korean textile giant Youngone will be setting up its manufacturing unit at the country’s Mega Textile Park coming up in Warangal, while several other major companies were lined up to invest in textile sector.
In continuation to his meetings with electronic industry representatives in Bengaluru, Rama Rao will be holding more meetings in other metro cities in India and abroad for attracting investments from electronics sector. While One Plus, Skyworth and other companies already expressed their commitment to set up manufacturing units in the State, the government has decided to approach manufacturing companies involved in electronics, electric automobile and batteries.