Telangana State which boasts of having the World’s Best Industrial Policy is all set to flaunt its quick approval mechanism ‘live’. The government instead of speaking on the new mechanism wants to demonstrate it live by clearing all the necessary approvals to The world’s largest furniture retail chain, IKEA, and beverages giant Coca-Cola within a fortnight.
IKEA will be setting up its first India store in Hyderabad with a proposed investment of $100 million (about Rs 620 crore) and Coca-Cola has already evinced its interest in setting up a Rs 1,000-crore facility near to Hyderabad.
There are other companies as well which already have operations in and around Hyderabad and are planning to go for further expansions involving at least Rs 10,000 crore of total investments in the new state. Government is planning to address all these industries at a go and create history in the country by facilitating all the approvals in 15 days of the application.
