Hyderabad: As many as 1,901 industrial units with a proposed investment of 12,626 crore and employment generation potential of 49,384 jobs were approved by the Telangana govt in the past year under the Telangana Industrial Project Approval and Self Certification System (TG-iPASS).
While 409 of these have already commenced operations and the rest are at various stages of implementation, another 882 units with a proposed investment of 9,646 crore and job creation potential of 40,468 have filed applications for clearances under TG-iPASS and are under process, Telangana IT Minister Duddilla Sridhar Babu said on Thursday.
As many as 16 mega projects with a combined investment of 14,433 crore and employment generation potential of 8,894 were approved by the state govt iPASS in the last year since the A Revanth Reddy-led Congress govt took the helm in December 2023, Sridhar Babu said.
Pointing to some of the major investments that have been cleared under the TG-iPASS since December 2023, he said Kaynes Semicon was the largest at 2,700 crore. Some of the other notable investments during the year include Maharashtra Seamless at 258 crore, GM Nexus India at 192 crore, Bactolac Nutraceuticals at 194 crore, and RMJ Veritiable Products at 127 crore, he said.
The industries minister pointed out that since December 2023, incentives of 272.24 crore were sanctioned for 2,489 claims put up by units promoted by general category entrepreneurs. An amount of 350.87 crore was also sanctioned to 5,430 units promoted by ST entrepreneurs, while 159.63 crore was sanctioned to 2,623 SC entrepreneur-driven units.
According to the industries minister, the biggest highlight of the year was the rollout of the micro, small and medium enterprises (MSME) policy 2024 that will address six key challenges being faced by entrepreneurs in Telangana and will prioritise the creation of more women entrepreneurs.
As part of this policy, of the 10 new industrial parks to be developed between the outer ring road (ORR) and regional ring road (RRR), five will be dedicated to MSMEs with one each being reserved for women entrepreneurs and innovative startups.
He said the Japan International Cooperation Agency (JICA) has committed a total budget outlay of nearly 1,700 crore for Telangana.