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Telangana commerce and industry minister KT Rama Rao highlighted the need for governments to work closely with the private sector, to create a conducive environment for growth and development. This approach will not only benefit the state, but also the investors and the citizens.
Telangana commerce and industry minister KT Rama Rao on Thursday said that the biggest challenge from a government perspective is the impediments in the way of capital infusion into the economy.
Speaking from the sidelines of the World Economic Forum 2023 being held at Davos, KT Rama Rao called on governments to "get off their high horses" to address this issue and take a more proactive approach towards attracting investment. He emphasised the need for governments to get to know investors better and understand their needs and concerns.
Rao said Telangana is open for business and ready to welcome investors with open arms. With its growing IT industry and pro-business policies, the state is well-positioned to attract investment and drive economic growth.
He discussed the potential of his state as a gateway for investors. He emphasized that India and China are very different from each other, with India being more like Europe in terms of its diverse cultures and states.
Rao acknowledged that every government around the world is grappling with the challenge of balancing welfare and development. He identified the biggest challenge as being the infusion of capital into the economy.
“Every single government within India has grappled with this problem of balancing welfare and development and ensuring that while we create wealth, employment, we also ensure that the vulnerable also are taken care of,” he said.
The minister highlighted the need for governments to work closely with the private sector, to create a conducive environment for growth and development. This approach will not only benefit the state, but also the investors and the citizens.
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