Telangana Chief Minister K Chandrasekhar Rao was all praise for China and its successful economy. He says there are many things one can learn from China. And also, he says, the Communist country has the ability to weather the present crisis. The following is the text of the speech the CM delivered on “Emerging Markets at Cross Roads” at the WEF Annual Meeting of the New Champions 2015 in Dalian, China on 9th September 2015
In India states have a major role to play. Realizing this aspect the Government of India has devolved more powers and funds to the states. The Planning Commission is no more now and in its place an organization called NITI Ayog consisting of all the Chief Ministers of all the states with Prime Minister as its Chairman has come into existence. We call this as Team India. With Prime Minister as Chairman and we all as members plan the development of country as a whole and also the states’ development as well. In a federal structure states have a major role to play. For instance, I am a recently born state and the 29th state of India.
Though we are the newest and youngest state of the country, we laid down an excellent industrial Policy. We made it a law in the state legislature. We have made it as a right to the investor to get the clearances within the stipulated time of two weeks. We have given clearances to 56 companies in the recent past to the tune of close to 2 billion US dollars investment. This speaks the mind set of India today to the world. I can certainly say that the market of India is huge consuming market and exporting market as well. So we are stable and definitely we will continue to grow. We have a Prime Minister who is on the path of reform. He is very firm. He was quite successful as Chief Minister of Gujarat state.
Ups and downs are normally seen and normally observed. What I believe is that the way china pursued all should do. 30 years ago there was a different China. Today the world sees a highly grown up China. One should learn from China. What not to be learnt from china? We can learn everything from China. We can learn everything from them. We strongly believe that we will grow and the trend is in our favour. We are the biggest oil importer and oil prices have come down now. We are happy for that and we will certainly make use of the situation and continue to grow further. This is our advantage.
“May be economies of other countries are at the cross roads. I can certainly say that definitely India is not at cross roads. The Government is on the path of reforms. We are moving with greater speed. India is saving lot of money on oil import. With that we have a lot of scope to create more infrastructures for the poor people and India is marching towards inclusive growth. We give utmost priority for the inclusive growth of the society and country and we believe in that. Structural changes will take place when poor remain poor and rich become richer. That will be a cursing point which is undesirable. We should maintain equilibrium taking care of the poor and maintaining the dignity of poor.
In my state, though I am a new state, I have started a two bedroom house scheme for the vulnerable and disadvantaged community. We are spending lot of money on providing drinking water and creating infrastructure in the city of Hyderabad and laid down very good industrial policy. I appeal to the world business community that India is a fairly good place for investment. I welcome all business world to come to India in general and particularly to Hyderabad and Telangana where we have a huge land bank to allot for industries. The industrial policy like ours is no where in the world. There are single window policies in the world, but the single window of Telangana, I can certainly say, is without grills. The officers who delay in delivering the required permissions and allocations will be penalised. We made it a right to the investor to get the required permissions, required allocations and required clearances within the stipulated time other wise it can be deemed to have been given and the business house can go ahead.
I welcome the business world to come to India, invest in India and invest in Telangana and let us go together.