Industrial policy of Telangana
The vision for industrialization of the State is “Research to Innovation; Innovation to Industry; Industry to Prosperity”. The industrial policy framework is driven by the goal of “In Telangana-Innovate, Incubate, Incorporate”. The policy framework intends to provide a business regulatory environment for ease of doing business in the State.
Telangana is the first State in India to bestow on investors the right to get clearance for their projects within a set time-limit. It also makes the State liable for penal action if it fails to respond to investment proposals within the time frame. All the mega projects (over Rs. 200 crore) will get clearance in 15 days, while the other projects will be approved in a month. There is also a provision of automatic approval system on submission of a self-certification.
The “Telangana State Industrial Project Approval and Self Certifi cation System (TS-iPASS) Act, 2014” was enacted to create investor friendly environment by repealing the AP Industrial Single Window Clearance Act, 2002. It provides speedy processing of applications for issue of various clearances at a single point. TS-iPASS is forward-looking and a model legislation in the country as it provides novel provisions such as automatic approval system on submission of self-certifi cation by entrepreneurs.
Infrastructure like roads, power and water will be provided to the industry for standalone units by contributing 50 percent of the cost of infrastructure from IIDF with a ceiling of Rs.1.00 crore, subjected to location not extending 10 kms., from the existing Industrial Estates/IDAs having vacant land/shed for allotment and cost of the infrastructure limited to 15% of the eligible fixed capital investment made in the industry.