FIICI ladies Organisation called on Jupally Krishna Rao

FIICI ladies Organisation (FLO) Hyderabad, represented Rekha lahoti, Samia Alam Khan, Vani Subhas, JyotsnaAngara and others called on Shri Jupally Krishna Rao, Hon’ble Minister for Industries, Textiles, Handicrafts and Sugar, today in his chambers in the Telangana Secretariat.

The ladies submitted a representation regarding the MOU it had signed with TSIIC in early November,2014 for land allotment for the lady members to set up Industries as part of Women Entrepreneurship Development Initiative.

36 members  have shown positive response for this project. With representation from apparel, jewellery, Food Processing, Retail furniture accessories, PharmaInstrumentation, and others. Participation in the project will be open to Pan-India members of FICCI FLO to encourage them to set up Industries with substantial investments of over 200 crores and generating employment of over 2000  persons in the next few years for the state of Telangana.They submitted a representation to make the price of land at an affordable price. They assured that within 24-30 months of handing over possession, their members will begin work on setting up the Industries, as most of their members are top echelons from the professional entrepreneurs and business community of Hyderabad which will bring in diversified industries, and assured that there will not be any defaulters with the backing of FLO.

They stressed that such parks will support the GDP growth of the state and nation.FLO envisions this Park to be a Flagship project and will be replicated as a model in other chapter states.

While recent study conducted in march 2012 stated that women account for only 7.7% of entrepreneurs in India and women in 24-45 yrs age group contemplate entrepreneurship, including first generation.

They requested development cost exemption- approach roads, internal infrastructure within the Park. 50% land cost rebate with minimum upper limit Rs.10lkh. all SC,ST& Women subsidies to be applicable to FLO Members. Exemption of 100% VAT/CST or State Goods and Services Tax (SGST) for minimum 5 years from date of Commencement of commercial production. Seed Capital assistance to 1st Generation entrepreneurs up to a maximum limit of 15 lakhs per entrepreneur . Rebate on interest paid non term loans to a max cap of 6%.Income Tax exemption for a period of 5 years as special incentive among other grants.

The Minister said he would look into the issue and  thegovernment would provide help wherever it was possible as The State wants to encourage women entrepreneurs  and that it  was part of the Telangana Industrial Policy.