Hyderabad: K. T. Rama Rao, Telangana’s Industry and Information Technology Minister, on Wednesday invited South Korean organizations to invest in the state, guaranteeing them all assistance.
He stated that Telangana will set up a Korea Industrial Park only for the South Korean organizations which come to Telangana.
The minister essentially partook in the India-Korea Business Forum meeting. Officials from the Indian Embassy and the South Korean Embassy alongside industrialists from South Korea took partook in the meeting.
The minister, who is famously known as KTR, noted that Telangana enjoyed a successful relationship with many respected Korean associations.
While interacting with the industry heads, he stated, “The Government of Telangana will provide complete assistance to the South Korean industries who come forward to invest in Telangana.”
KTR expressed that Telangana has its progressive and unique industrial policy as the Telangana State Industrial Project Approval and Self-Certification System (TS-iPASS). He likewise referenced that this policy has been drawing in significant investments to Telangana and is valued by many industry leaders across the world.
He uncovered that about $30 billion investment has come to Telangana since TS-iPASS came into operation.
The minister stated that YoungOne, a Korean organization, has approached to invest in Telangana. He additionally said that the state government had gone into a partnership with South Korea’s Gangwon Techno Park (GWTP) for technology and cluster cooperation in the space of med-tech devices.
He likewise said that Hyundai India set-up its only cutting-edge R&D Centre in Hyderabad which is the biggest Hyundai R&D center outside Seoul.
Pointing out that Telangana has a stable government and all other natural resources suitable for setting up industries, for example, availability of water and continuous supply of power, KTR likewise expressed that it will give training to the local youth at its own expense to give skilled workers to the Korean organizations which approach to invest in Telangana.
