Peace of doing business is more important, for investors, than the ease of doing business (EoDB) levels of a State, and Telangana ranks high on that count too, Industries and IT Minister K.T.Rama Rao said on Monday.
Presenting excellence awards instituted by the Federation of Telangana Chambers of Commerce and Industry (FTCCI), for enterprises under different categories, the Minister said this listing various EoDB initiatives of the government, including ensuring quality power supply, a sea change from the days of power holidays prior to 2014, streamlining of inspections by various departments as well as extension of time window of certain licences.
More importantly, in the eight years, since Telangana formation, there was no workers’ agitation, leading to clashes or lockdown, he said, seeking to highlight the conducive industrial climate in the State.
The government has provided basic infrastructure for industries and plays the role of a facilitator. “The government has not poked its nose where it does not belong. In these eight years, we have not harassed any investor, we have not fleeced any investor, we have not indulged in any corrupt practices. That is Telangana for you,” Mr.Rama Rao said, pointing to how around 24% of the investments in the State are repeat investments.
To an observation earlier by FTCCI president K.Bhasker Reddy that the State is slowing slipping on the cost of business benchmark, the Minister urged the trade and industry body to suggest ways for it to remain competitive. Noting that Maharashtra, Tamil Nadu, Karnataka and Gujarat were the four States Telangana actually compete with, Mr.Rao said “my request to you is to benchmark ourselves against these four States, their power tariff, cumulatively where are we in terms of cost, quality, ease of doing business and peace of doing business.” He admitted that Telangana has some ground to cover on the quality of business front.
Incentives for MSMEs
On FTCCI’s plea for early release of incentives to industries, especially micro, small and medium enterprises, the Minister, in assuring tone, said the COVID-19 pandemic had impacted the incentive payments. But with the State Budget this fiscal making a significant allocation, they will be issued. “This year, we will make it more structured, especially for MSMEs,” he said to applause from the gathering.
Chairman of FTCCI Excellence Awards Committee Gowra Srinivas said the jury comprising eminent persons have selected the 19 winners from over 150 nominations received for this edition of the annual awards. Industries and IT Secretary Jayesh Ranjan congratulated the winners.
