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Proactive policies needed to attract investments into country: KTR | Published: 9th August 2020 | Posted Date: Sunday 9th August 2020 04:41 PM

IT and Industries Minister K T Rama Rao delivering keynote address at the online session on ‘Reinventing Technology in India - Combining the Best of Local and Global Talent, Innovation and Capital’ held as part of CII IndiaAt75 Summit.

Hyderabad: IT and Industries Minister K T Rama Rao on Saturday made a strong pitch for proactive policies to attract investments into the country, particularly in these pandemic times.

“Bold reforms are the need of the hour for the country, and we need to design proactive policies to encourage companies to invest in India,” the Minister said, in his keynote address at the online session on ‘Reinventing Technology in India – Combining the Best of Local and Global Talent, Innovation and Capital’ held as part of CII IndiaAt75 Summit.

Stating that the Telangana government had, as a step in this direction, introduced a best in class Electric vehicles policy on Thursday, Rama Rao said: “The disruption caused by Covid-19 pandemic has forced us to embrace technology in a way never seen before and has helped accelerate our approach towards remote working and implementation of digital solutions.”

The Minister, who has been consistently saying that the country should position itself to tap the potential in the post Covid period, said India has one of the largest pools of technology workforce across the globe and had 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 said, adding that with a median age of 26.8 years, India had the youngest workforce in the world which will play an important role during this phase of acceleration.

The Minister, highlighting the three “Is” mantra, said: “What India needs today is innovation, infrastructure, and inclusive growth.” He also spoke about the importance of use of technology in various sectors such as the agritech sector to increase profitability to farmers, technology for digital education, online retail, and robot deliveries.

Pointing out that 5G will play a very critical role, Rama Rao said India was 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 had already fast-tracked the implementation of several use cases-based on advanced technologies such as AI, Drone, Blockchain, and Cloud.

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



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