Minister KTR invites Korean companies to invest in Telangana

IT and Industries Minister KTR participated in the India-Korea Business Forum. Officials from Indian Embassy and South Korean Embassy along with Industrialists from South Korea participated in the session.

In his opening lines, Minister KTR said “Telangana has enjoyed a successful relationship with several reputed Korean organisations.”

“The Govt of Telangana will provide complete assistance to the South Korean industries who come forward to invest in Telangana,” said Minister KTR while interacting with the industry heads at the India-Korea Business Forum.

Talking about the TS-iPASS, Minister KTR stated that Telangana has its unique and progressive industrial policy in the form of Telangana State Industrial Project Approval and Self-Certification System (TS-iPASS). He also mentioned that this policy has been attracting major investments to Telangana and is appreciated by various industry leaders across the globe.

Minister KTR stated that investment of about USD 30 billion has come to Telangana since TS-iPASS came into functioning.

Minister said that YoungOne, a Korean company, has come forward to invest in Telangana. He also mentioned that the Government of Telangana had entered into a partnership with South Korea’s Gangwon Techno Park (GWTP) for technology and cluster cooperation in the space of med-tech devices. He also mentioned that Hyundai India set-up their only state-of-the-art R&D Center in Hyderabad which is the largest Hyundai R&D Centre outside Seoul.

Assuring complete support, Minister KTR stated that the Government of Telangana will set up a Korea Industrial Park exclusively for Korean companies which come to Telangana. He sought help from embassy heads of Korea and India and also the industrialists from Korea.

Minister highlighted that Telangana has a stable government and all other natural resources suitable for setting up industries such as availability of water and uninterrupted supply of electricity.

Going a step forward, Minister KTR also stated that Telangana government will provide training to the local youth at its own cost to provide skilled labour to the Korean companies which come forward to invest in Telangana.

IT and Industries Principal Secretary Jayesh Ranjan also participated in the session.

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