Telangana's Infrastructure Sector Beckons Malaysian Investors

From Nurunnasihah Ahmad Rashid HYDERABAD (India), May 6 (Bernama) -- Telangana, a state in India which is currently undergoing rapid redevelopment, offers tremendous investment opportunities for Malaysian companies, particularly in the infrastructure sector. Telangana Minister for Information and Technology, Municipal Administration and Industries, Kalvakuntla Taraka Rama Rao said at present, there was rapid development taking place in the country's major cities, including Telangana, which could translate into huge investment prospects for businessmen of both nations. "We also need expertise in the infrastructure industry in order to become an established state," he told Bernama here Friday after a briefing for a Malaysian trade and investment delegation by Telangana State Industrial Development Board. The delegation, led by Malaysian International Trade and Industry Minister Mustapa Mohamed, is aimed at promoting business opportunities in Malaysia and to trigger the participation of Malaysian companies in Andhra Pradesh. Present were Malaysian Consul-General in Chennai Ahmad Fajarazam Abdul Jalil, Malaysian Investment Development Authority (MIDA) Deputy Chief Executive Officer II N. Rajendran, Malaysia External Trade Development Corporation Senior Director, Strategic Planning Division, Wan Latiff Wan Musa and MIDA Director in Mumbai Sherulanuar Abd Karim. Spanning over 114,840 square kilometres, Telangana is one of the 29th states in India with Hyderabad as its capital. The state has a population of more than 35 million people. Kalvakuntla said the state seeked collaboration with Malaysia in setting up an industrial hub for various sectors such as food processing, education and pharmaceutical in India. Besides sharing similar cultures, he said both countries should continue their cooperation to further spur economic growth. "Doing business in Telagana is easy...there is a new industrial policy and the government is offering various incentives. We promise dedicated water supply and uninterrupted power supply....you are welcome here," he said. Meanwhile, Mustapa said Malaysian companies were actively participating in India and Telangana. Several successful projects such as highways and infrastructure development were undertaken by various Malaysian companies including the Construction Industry Development Board and IJM (India) Infrastructure Ltd. "India's economy is doing well...the local newspaper (The Times of India, Hyderabad) on Tuesday, reported that the International Monetary Fund had endorsed the trade businesses policy in India. Saying that Telangana was a good place to do business, Mustapa added that he will come back to work closely with the state on setting up a centre for startup companies to create opportunities for the young generation. --BERNAMA