Hyderabad: The Telangana State government has offered to create an exclusive industrial park for South Korean companies with specific incentives.
Industries Minister K.T. Rama Rao made this offer on Thursday while addressing representatives of the Seoul-based firms. Rama Rao said the state will meet or beat best incentives in the world for big investors.
The minister was speaking at the Investment Opportunity Forum with Telangana organised jointly with the central government and the Indian Chamber of Commerce in Korea (ICCK).
About 100 representatives from 50 South Korean companies participated in the forum presided over by India’s ambassador in Seoul Vikram Doraiswami.
Sock Joon Yoon, Secretary General, ICCK also addressed the event.
“Telangana offers to build Korean industry park with state-held land in trilateral partnership mode with Korea specific facilities,” tweeted Rama Rao, who is son of Chief Minister K. Chandrasekhar Rao.
The minister told the forum that the newly created state offer investment opportunities in various sectors.
He said the state had come out with the best industrial policy, which has given investors right to time-bound clearances for their proposals.
Rama Rao, who is also minister for information technology, highlighted the incentives offered under IT and electronics policies.