How the Telangana State Industrial policy framework is driving Industrial growth in the state of Telangana:
The Scheme to boost commerce in Telangana is called The Telangana State Industrial Project Approval & Self Certification System: TS-iPASS.
The new Telangana State government is striving to provides a framework which will stabilize and make existing industries more competitive as well as attract and realize new international and national investments in the industrial sector.
The new policy framework includes minimum inspection and maximum facilitation which is a very beneficial aspect to business.
The Government of Telangana is determined to create an ecosystem for ease of doing business in the state that matches and even exceeds the best global standards.
Until now a total of 2991 industries have been accorded approvals involving an investment of Rs. 50827 Cr, including investments from TSGENCO. So far, 1138 industries have commenced commercial production, 405 are in advance stages of completion and the rest are under various stages of construction.
The scheme adopts classification of projects into large, medium, small and micro sectors according to the Government of India MSME Ministry definitions as amended from time to time.
Available TS iPSS Incentives:
The Telangana Government aims to encourage the process of industrialization by making various kinds of incentives available to entrepreneurs. The Telangana State Government also provides an entrepreneur-friendly and graft-free regime of disbursing the incentives. The Telangana State Government guarantees that the incentives will be released on time, and direct to the respective bank accounts.
There are enhanced incentive packages available for Scheduled Castes, Scheduled Tribes, physically handicapped, and women entrepreneurs. Mega Projects with an investment of over Rs.200 crores in plant and machinery or employment above 1000 persons will receive tailor-made TS iPASS incentives in addition to standard large category industry incentives.
The Telangana State Government is providing incentives to the entrepreneurs in the following areas under its T-IDEA (Telangana State Industrial Development and Entrepreneur Advancement) incentive scheme:
100% Stamp duty reimbursement
25% Land cost rebate up to Rs.10 Lakhs
25% Land conversion cost up to Rs.10 Lakhs
Power cost reimbursement @ Rs. 1 per unit for 5 years.
15% subsidy up to 20 Lakhs Investment subsidy
100% of VAT reimbursement for 5 years
Interest subsidy
Seed capital for 1st generation entrepreneur
Seed capital for 1st generation entrepreneur
Quality/patent support
Reimbursement of infrastructure development costs
The above reimbursements/subsidy’s/rebates are greater when it comes to SC/ST and women and entrepreneurs those are provided in T-PRIDE schemes i.e Telangana State Program for Rapid Incubation of Dalit Entrepreneurs.
