Industry, corporates for friendly business climate in Telangana

HYDERABAD: With Telangana state becoming a reality today, players in the industry and corporate sectors are looking forward to policies and initiatives to spur development and growth in the new state with able governance.

Executive Chairman of Cyient Ltd (formerly Infotech Enterprises) BVR Mohan Reddy said the last three years in particular saw several intense agitations for a separate state of Telangana, adding the bifurcation process created tremendous amount of mistrust and confusion for both the parties.

"This is past us and we hope to see two friendly Telugu speaking states after June 2," he said.

Vice President and Managing Director of Pegasystems, Suman Reddy said the IT industry hopes that the new government will bring in clarity on industry related policies such as taxation, single window clearances and introduce incentives for startups.

Noting that MNCs primarily look for availability of skilled talent, cost advantage compared to other places and good infrastructure and investor-friendly government policies in evaluating an offshore investment, he said Hyderabad continues to be one of the preferred destinations in this context.

"With stable governance now, a larger share of growth is expected to return to Hyderabad. Industrial development to bring in growth and investments should be the primary agenda for the new government of both regions," he said.

TiE Hyderabad Chapter president Murali Bukkapatnam said: "We are hopeful that the new governments of both the states will take necessary steps in formulating the required policies to promote entrepreneurship, innovation and development in their respective states."

"We would suggest the government to set up more incubation centres which could fuel innovation amongst the youngsters. The Telangana government should take Research Innovation Circle of Hyderabad (RICH) programme, floated by previous state government, to boost research and fund innovations to the next level.

"Along with these, it should also strive to create more industrial corridors and clusters beyond Hyderabad," he added.