Telangana Chief Minister Revanth Reddy inaugurated Malabar Gems and Jewellery’s integrated manufacturing unit at Malleshwaram in Hyderabad on Thursday.
“Telangana is emerging as the number one destination to attract investments in India. Hyderabad is sought after destination for investors from all over the world. Hyderabad is competing now with global cities. We are offering complete support for the investors and creating an ecosystem, where industries from all sectors can thrive. We have come up with Vision 2047 to attract investments and promote industries,” said CM Revanth Reddy speaking after launching the Malabar Gems and Jewellery integrated manufacturing unit.
“Hyderbad is home for vibrant IT and ITES sectors. We are also promoting manufacturing sector with all vigor. Telangana is witnessing 9 percent growth in manufacturing sector annually. To further promote manufacturing sector, we have brought in Green Industrial Policy,” said IT and Industries Minister D Sridhar Babu, speaking on the occasion.
Saying that Telangana is offering the best ecosystem for industries and investors, Minister Sridhar Babu highlighted, while 4,200 applications were received for setting up new industries, 98 percent have been approved within 15 days, through single window system.
Kerala-based Malabar Gold set up integrated manufacturing facility in Hyderabad with an investment of more than Rs 750 Cr. It is expected to create 2750 jobs, most them for artisans. Malabar’s Hyderabad unit has production capacity of 4.7 tonnes of gold Jewellery and 1.8 lakh carats of diamond Jewellery.
