Hyderabad: Telangana became the first state in India to bestow on investors the right to get clearance of their projects within a set time-limit with the unveiling of industrial policy framework on Friday.

Aimed at making Telangana an ideal destination for investment, the new policy promises corruption-free and hassle-free business environment. With the slogan of 'Make in Telangana', the state government is inviting entrepreneurs to innovate, incubate and incorporate in the state.

The new policy unveiled by Chief Minister K. Chandrasekhar Rao at a gala event here on Friday, makes the state liable for penal action if it fails to respond to investment proposals within the timeframe.

Under the Telangana Industrial Project Approval and Self-Certification

System (TS-iPASS), all the mega projects, over Rs.200 crore, will get clearance in 15 days while the other projects will be approved in a month.

With focus on minimum inspection and maximum facilitation, the system has a provision of automatic approval system on submission of a self-certification. There is another provision of deemed approvals, in case of failure of according approvals by departments, within the set time limits.

Launching TS-iPASS framework in the presence of top industrialists, CEOs of various companies, representatives of industry bodies and diplomats of countries like Japan, Canada and France, the chief minister said a chasing cell has been created in his office to get all clearances for the projects on behalf of the investors.

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