At the same time, he also announced that a new law would be enacted to simplify the approval process for setting up new industrial units in the state.

"We will identify industries as a core sector to improve the state's economy and create jobs. We will put in place a single window system in real spirit to grant all requisite approvals for setting up industries and also ensure zero corruption in the process," he announced at an interactive programme with industrialists here on Tuesday.

"The 'license raj' is not yet gone. You still require 25-36 clearances for setting up industries, which is very cumbersome. Securing environmental clearance is really painful. We will soon bring in a legislation to eliminate all this," the Chief Minister told industrialists.

"Singapore has the best single window clearance system in the world. I promise and assure you that Telangana will have a better single window policy. I will myself invite investors in batches and receive their proposals.

"At the end of a specific period, they will be called for a second meeting and I will personally handover an envelope containing all clearances. The investors need not visit any other office," Rao said.

The Chief Minister said his government was drafting a realistic new industrial policy that would encompass some of the best international practices.

"There will not be any hype or cosmetic window-dressing. Our industrial policy will be realistic as we are very ambitious. My only objective is to see that the Telangana state flourishes and the people are happy," he said.

Stating that power supply position in the state was "not good", he said plans were afoot to generate an additional 6,000 MW of electricity and make the state "power surplus" in the next three years.

"We intend to make Hyderabad a software and hardware hub for which dedicated power supply is critical. We will draw power from neighbouring Chhattisgarh through a dedicated line and ensure uninterrupted supply," the Chief Minister added.

Chief Secretary Rajiv Sharma, Special Chief Secretary (Industries) K Pradeep Chandra and other officials were also present at the interactive session.

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