Telangana's industrial policy is the best: KCR

Hyderabad, Sept 9 (INN): Inviting the Chinese investors to invest in Telangana, Chief Minister K. Chandrashekar Rao said that the State Government's new industrial policy was best in the world.

'I welcome all business world to come to India in general and particularly to Hyderabad and Telangana where we have a huge land bank to allot for industries. The industrial policy like ours is nowhere in the world. There are single window policies in the world, but the single window of Telangana, I can certainly say, is without grills. The officers who delay in delivering the required permissions and allocations will be penalised. We made it a right to the investor to get the required permissions, required allocations and required clearances within the stipulated time. Else, it will be deemed to have been given and the business house can go ahead,' KCR said while speaking on 'Emerging Markets at Cross Roads' at the WEF Annual Meeting of the New Champions 2015 in Dalian, China on Wednesday.

KCR said that in India, States have a major role to play. 'Realizing this aspect the Government of India has devolved more powers and funds to the States. The Planning Commission is no more in existence and it has been replaced with NITI Ayog consisting of all the Chief Ministers of all the states with Prime Minister as its Chairman. We call this as Team India. With Prime Minister as Chairman and we all as members plan the development of country as a whole and also the States' development as well,' he said.

'Telangana is recently born and the 29th state of India. Though we are the newest and youngest state of the country, we laid down an excellent industrial Policy. We made it a law in the state legislature. We have made it as a right to the investor to get the clearances within the stipulated time of two weeks. We have given clearances to 56 companies in the recent past to the tune of close to 2 billion US dollars investment. This speaks the mind set of India today to the world. I can certainly say that the market of India is huge consuming market and exporting market as well. So we are stable and definitely we will continue to grow. We have a Prime Minister who is on the path of reform. He is very firm. He was quite successful as Chief Minister of Gujarat state,' the Chief Minister said.

KCR said India could learn lot of things from China. He also claimed that compared to economies of several other countries, Indian economy was not at crossroads.

'In my state, though I am a new state, I have started a two bedroom house scheme for the vulnerable and disadvantaged community. We are spending lot of money on providing drinking water and creating infrastructure in the city of Hyderabad and laid down very good industrial policy,' the Chief Minister said.