Telangana to boost investments with new MSME clusters
HYDERABAD: In order to attract more investments, the Telangana government is mulling setting up more Micro, Small and Medium Enterprises (MSME) clusters.
The Telangana State Industrial Infrastructure Corporation (TGIIC) is identifying the land to accommodate the companies that have come forward to invest in Telangana.
On Saturday, in an official statement, TGIIC said that it will focus on developing world-class industrial infrastructure and setting up more MSME clusters to support local entrepreneurs and attract domestic and foreign investments.
Since the new government took office in December 2023, a few companies have announced new investment proposals worth nearly Rs 50,000 crore. Of these, investments worth Rs 40,000 crore were announced during Chief Minister A Revanth Reddy’s visit to Davos and proposals worth another Rs 10,000 crore after his return. “We are coordinating with these companies to set up all these projects and to facilitate their investment in the state,” the TGIIC said.
The corporation added that it was periodically examining the applications of companies that have come forward to invest in Telangana and make land allocations. “During the last three months, when the election code was in force, we received more than 140 applications. After carefully examining all these applications, we identified 113 companies as eligible for land allotment. Land allotment to these 113 companies was made as soon as the model code was lifted,” TGIIC said.
According to the government, through these 113 companies, the state will get investments worth Rs 2,200 crore and more than 7,000 people will get employment opportunities. Among the companies allotted land are France’s Mane, Hong Kong’s APC and Malabar Gold. A major portion, almost 70%, of these lands are allotted to MSMEs.
