The Telangana government is considering the formation of a joint consultative committee on industries with the Confederation of Indian Industry (CII) and implementing new policies on Global Capability Centres (GCC), IT and industries. The aim of this committee is to address industrial challenges in the state.
GCC Policy
- The Telangana government will soon release a new policy for Global Capability Centres (GCC). The aim of this policy is to establish Hyderabad as a major location for global companies.
Main Objectives
- To make Hyderabad an attractive hub for global companies.
- To give priority to sectors like Life Sciences and Banking, Financial Services, and Insurance (BFSI).
Benefits
- To boost the state’s prospects for attracting international companies.
- To promote investment and innovation in industries.
New Policies
- Along with the GCC policy, new IT and industry policies are also being formulated.
- These policies will meet the changing needs of the state’s industrial landscape.
Composition of Joint Consultative Committee
Composition of the Committee
- It will include Special Chief Secretary of Industries and leaders of CII.
- Motivation: This committee will be based on the successful model of Kerala.
Objectives
- To effectively address industrial issues.
- To enhance cooperation in the development of industries.
New initiatives of the government
- MSME Policy: New policy implemented for Micro, Small and Medium Enterprises (MSMEs).
- Young India Skills University: Establishment of Young India Skills University under Public-Private Partnership (PPP).
- Focus on Food Processing Industry: Promotion of food processing industry to support rural economy.
| Telangana Telangana, the 29th state of India, was formally established on 2 June 2014. The state was formed by splitting from Andhra Pradesh. The word ‘Telangana’ means ‘land of Telugu speakers’. The region was earlier part of the Hyderabad princely state of independent India, which merged with India on 17 September 1948. Struggle for state formation There were long agitations and efforts to create a separate Telangana state.The Telangana Bill was passed in the Lok Sabha on 18 February 2014 and also approved by the Rajya Sabha on 20 February 2014.After the President’s signature, Telangana became the 29th state of India.Joint capital: Hyderabad was declared the joint capital of Telangana and Andhra Pradesh for 10 years. Population and language Religious population 84% Hindus4% Muslims2% Sikhs, Christians and followers of other religions. Linguistic Diversity 76% of the people speak Telugu.12% speak Urdu and the remaining 12% speak other languages. Current Leadership Chief Minister: Anumula Revanth Reddy (Assignment: 7 December 2023)Governor: Shri Jishnu Dev Varma Importance of Telangana Telangana is a major culturally, economically and linguistically diverse state of India.The state is famous for its historical monuments and landmarks such as Charminar, Golconda Fort and Ramoji Film City.Hyderabad, the state capital, is a major hub for the IT and pharma industries. |