Proactive policies will attract investments into the country: Minister KTR

Hyderabad, Aug 8 (INN): IT and Industries Minister K.Tarakarama Rao delivered the keynote address in the online session ‘Reinventing Technology in India- Combining the Best of Local and Global Talent, Innovation and Capital’ held as part of CII IndiaAt75 Summit. “Bold reforms are what India needs today,” he said during the session.

“We need to design proactive policies to encourage companies to invest in India. As a step towards the same, the Telangana government has introduced a best in class Electric vehicles policy on 6th August,” said Minister KTR.

“The disruption caused by the #COVID19 pandemic has forced us to embrace technology in a way never seen before and has helped accelerate our approach towards remote working, implementation of digital solutions,” said Minister KTR.

The Minister stated that India has one of the largest pools of technology workforce across the globe and has gained a significant lead in the industry over the last two decades. “The pandemic acts as a perfect platform to strengthen our position in the sector,” he added.

KTR stated that with a median age of 26.8 years, India has the youngest workforces in the world which will play an important role during this phase of acceleration.

Minister KTR highlighted the three “I” mantra and said, “What India needs today are innovation, infrastructure, and inclusive growth.

The Minister highlighted the usage of technology in various sectors such as the agritech sector to increase profitability to farmers, technology for digital education, online retail, and robot deliveries.

He stated that 5G will play a very critical role and India is very well capable of developing a cost-effective and swiftly deployable 5G solution. “This is crucial and will go miles in strengthening our position as a technology leader in the world,” he added.

The Minister also stated that Telangana has already fast-tracked the implementation of several use cases based on advanced techs such as AI, Drone, Blockchain, and Cloud.

IT and Industries Principal Secretary Jayesh Ranjan was also present during the session.

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