Industry looks for friendly business climate in Telangana from K Chandrasekhar Rao

Jun 02 2014, 22:12 IST
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Fireworks erupt over Tank Bund during the celebration of formation of the new state of Telangana in Hyderabad. PTI Fireworks erupt over Tank Bund during the celebration of formation of the new state of Telangana in Hyderabad. PTI
SummaryAs Telangana became reality today, businessmen are waiting for CM K Chandrasekhar Rao to unveil his policies.

With Telangana state becoming a reality today, players in the industry and corporate sectors are looking forward to policies and initiatives to spur development and economic growth in the new state with able governance from the first Chief Minister K Chandrasekhar Rao.

Executive Chairman of Cyient Ltd (formerly Infotech Enterprises) B V R Mohan Reddy said the last three years in particular saw several intense agitations for a separate state of Telangana, adding the bifurcation process created tremendous amount of mistrust and confusion for both the parties.

"This is past us and we hope to see two friendly Telugu speaking states after June 2," he said.

Vice President and Managing Director of Pegasystems, Suman Reddy said the IT industry hopes that the new government will bring in clarity on industry related policies such as taxation, single window clearances and introduce incentives for startups.

Noting that MNCs primarily look for availability of skilled talent, cost advantage compared to other places and good infrastructure and investor-friendly government policies in evaluating an offshore investment, he said Hyderabad continues to be one of the preferred destinations in this context.

"With stable governance now, a larger share of growth is expected to return to Hyderabad. Industrial development to bring in growth and investments should be the primary agenda for the new government of both regions," he said.

TiE Hyderabad Chapter president Murali Bukkapatnam said: "We are hopeful that the new governments of both the states will take necessary steps in formulating the required policies to promote entrepreneurship, innovation and development in their respective states."

"We would suggest the government to set up more incubation centres which could fuel innovation amongst the youngsters. The Telangana government should take Research Innovation Circle of Hyderabad (RICH) programme, floated by previous state government, to boost research and fund innovations to the next level.

"Along with these, it should also strive to create more industrial corridors and clusters beyond Hyderabad," he added.

Vice President and Managing Director, Progress Software & President ITsAP, Ramesh Loganathan said Hyderabad is the second largest city for IT industry in India and this momentum will continue.

"The ORR and the planned peripheral ring road will render many of the districts around Hyderabad to be very effective satellite extensions to Hyderabad. This will enable a large interconnected swathe of a region that can be an extended IT

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