Telangana Minister K T Rama Rao along with Jagadish Reddy released the annual report of the Industries and Commerce department for the year 2016-17. The department of industries and commerce on the occasion unveiled a novel initiative – Telangana Industrial Health Clinic Limited (TIHCL) for the revival and growth of sick manufacturing MSMEs. TIHCL is as apparently Non Banking Financial Institution (NBFC) with a corpus of Rs 100 crore.

KTR said that Kakatiya mega textile park will be launched this year. He said three new food parks will come up in the state. The minister of IT said Spices Park will be set up in Balakonda constituency and Dye Port will be constructed in Nalgonda district. He said that Dalit and Tribal entrepreneurs are being encouraged with T-pride.

Terming TS-iPass as “revolutionary policy”, the minister said permissions are given for establishment of industries within 15days. KTR highlighted that, in past two years their government has given permissions to investments worth Rs 73,000 crore through TS-iPASS, of which 50 percent have already commenced operations. Consequently 2.46 lakh jobs were generated directly and around 7 lakh jobs indirectly through these investments. He said that TS-iPASS has completed 2years which was designed after studying the best industrial practices around the world.

The State has achieved a 10.1 per cent year-on-year growth in Gross State Domestic Product (GSDP) in 2016-17 and the share of TS’ economy in national GDP has increased by 7 basis points. The state stands at top in ease of doing business and will be setting new records in industrial growth this year.