Telangana attracts Rs 17,867 cr investment with its project approval tool TS-iPASS

Hyderabad, June 7 (KNN) Telangana State Industrial Project Approval and Self-Certificate System (TS-iPASS) has been successful in attracting Rs 17,867 crore investment in the FY22. It is the state’s industrial flagship initiative.

According to the report released by the State’s Industries and Commerce Department, a total of 3,938 new programs were approved by the state government under the TS-iPASS.

Commenting on the development, Industries Secretary Jayesh Ranjan said, “Despite the partial COVID related slowdown, Telangana has been able to attract record number of investments in FY-22 and the momentum is growing.”

A policy measure on the back of which the state has been successful in wooing investors from both India and abroad, has been successful in generating an estimate of 96,863 jobs in 2020-21.

In the seven years since its launch, TS-iPASS got the state Rs 2, 32,311 crore investments through 19,454 projects with a potential to create 16.49 lakh jobs. Of these, 15,660 projects involving investments of Rs 1,33,225 crore have commenced operations, the report said.

In terms of industries where substantial investments have been committed in FY-22, Life Sciences sector got approvals for 215 projects worth Rs 6,400 crore. The Food Processing sector attracted Rs 2,309 crore investment through 60 projects.  (KNN Bureau)