As multinational companies are reportedly looking at relocating manufacturing facilities from China, Telangana has formed a team to promote the State as an alternative destination.
The State is in advanced stages of forging alliances with a few of the global players, according to Telangana Information Technology and Industries Minister KT Rama Rao.
Addressing members of the Federation of Indian Chamber of Commerce and Industry (FICCI) here on Thursday over videoconference, he said the State has started tapping investment opportunities by companies that were trying to move away from China.
“Telangana is open for business and we are looking for investments in high employment generating sectors such as textiles, pharma, healthcare, electronics and life sciences,” he said.
Stating that Covid-19 has posed challenges to the economy, he said it was a tough task to balance livelihood opportunities and health safety.
“It is time we look at increasing scale of operations,” he said.
He cited the example of medical equipment sector. “We import about 78 per cent of all the medical equipment,” he said.
“We need to think of scale, we need to think about mega industrial parks. The world’s largest pharma cluster in the form of Hyderabad Pharma City will be coming up in Telangana in the next few months,” he added.
Indirectly referring to low Covid testing numbers in the State, he said there was no use testing indiscriminately. “We have been following the guidelines of World Health Organization and Indian Council of Medical Research diligently,” he said.