IT and Industries Minister K.T. Rama Rao on Monday urged Australia to consider setting up a Consul General office in Hyderabad as a step to enhance bilateral trade and for businesses to explore new growth opportunities.
The Minister, who was addressing the launch of an update to the ‘India Economic Strategy to 2035: Accelerating our Economic Integration’, said this pointing to emergence of Hyderabad as one of the leading centres of economic activity. The city has also been rated as the most liveable in India.
Mr.Rao said “my appeal to Australian government is that you need to engage directly with the States. It is equally important... real action is in the State. Water, fiscal incentives, manpower, day to day issues, all lie within domains of the State governments”.
The Minister highlighted the investor-friendly initiatives of Telangana government, including the TS-iPASS policy of time bound/deemed approvals that has helped the State attract $35 billion investments over about eight years. As many as 19,000 projects with a potential to create 16 lakh jobs had been approved under the policy. The State has identified 14 thrust growth sectors and focused on facilitating innovation and entrepreneurship through various initiatives, including T-Hub and WE Hub.
Australia’s Consul General for South India Sarah Kirlew said, “There has never been a better time in Australia-India relations. We have a clear action plan to deepen our economic integration through 26 new initiatives supported by substantial funding.”
Of particular benefit to Telangana will be initiatives in the field of technology and innovation, health, space and education. Australia will be opening a Consul General office in Bengaluru and reopening its trade office in Hyderabad, she said.
