Telangana CM promises to clear investment proposals in 2-3 weeks

Telangana Chief Minister K. Chandrasekhara Rao has promised to personally clear any investment proposal in the state in two to three weeks with a real single window system.

He said any investor coming to Hyderabad would be welcomed by the officials at the airport.

"They will bring him directly to me. After submitting his proposal, he may go back to work. After two to three weeks, we will give him all approvals and he can start the work," he said at the inauguration of the second phase of WaveRock, an Information Technology park built by Tishman Speyer, one of the world'ss leading developers of real estate.

KCR, as the chief minister is popularly known, said there would be no need for investors to roam around Hyderabad for approvals. He also assured the industry that there will be zero tolerance for corruption.

Later addressing a meeting with officials, he suggested them to study industrial policies of countries like Singapore and prepare the best policy in the country to attract national and international investment.

KCR said the single window system would be simple, transparent and corruption free. He said the single window should work in a manner to ensure that an investor get all approvals for setting up an industry within two weeks, according to a statement from the chief minister's office.

A chasing cell for the purpose will be set up in the chief minister's office.

The chief minister noted that under the existing system, an industrialist wanting to set up his unit has to get 22 approvals from 17 different departments. He suggested that industrial infrastructure corporation develop available land as industrial parks, get all approvals and keep it ready for setting up of industries.

Stating that new industrial policy will be announced soon, the chief minister said his vision was to make brand Hyderabad and brand Telangana globally recognized and applauded.

KCR said Hyderabad would be developed as best world-class smart city in the world and a digital city which can compete globally. "The fact that Tishman Speyer choose Hyderabad for its first project in India indicates the bright future of the city," he said.

Describing Hyderabad as the premier IT destination, he called up on industry to focus on product development.

He reiterated that international consultancy will be hired to prepare the new master plan for Hyderabad. He pointed out that the government has already initiated steps to make the city highly regulated and to strengthen the law and order mechanism.

Information Technology Minister K. Tarakarama Rao said with political stability both in the state and at the central level and decisive leadership, which was lacking for five years, and global slowdown receding, things would brighten up for the IT sector in Hyderabad.