Hyderabad,  Telangana's Minister for Industry and Information Technology K. T. Rama Rao on Friday said the state government's policies transformed Hyderabad into an innovation hub and the favourite destination for global companies.

He said Hyderabad has claimed its rightful place on the global innovation map and has captured the imagination of global leadership.

He also claimed that several policies and initiatives of the Telangana government are a role model to become self-reliant in various sectors.

He stated this during a conversation with Google India Country Head Sanjay Gupta at the US-India Strategic Partnership Forum's 3rd Annual Leadership (virtual) Summit 'US-India week 2020: Navigating New Challenges'.

KTR, as the minister is popularly known, stated that the COVID crisis has opened up many business opportunities and India has a great opportunity to attract global investors to the country.

Mentioning about TS-iPASS, he stated that Telangana is the only state today which allows for a self-certification-based system for approvals and clearances.

He referred to the setting up of T-Hub after formation of Telangana State and the innovation policy which defined a holistic approach to bridge the gaps between start-ups and government and to build the start-up ecosystem.

"Today, the innovation ecosystem model which consists of organisations like T-Hub, TSIC, We-Hub, T Works, and RICH who work actively with academia, industry, and government departments to spur innovation is considered as one of the best models in the country," he said.

KTR stated that the government has formulated actionable strategies for developing robust local ecosystem for Artificial Intelligence (AI), Blockchain, drones, IoT, and Cyber Security. Telangana is also the first state to have policy/strategy documents for AI, Blockchain, and drones. "We are recognized as undisputed thought leaders in these areas among Indian state governments," he added.

He said Telangana clearly defined its vision to be a global leader in emerging technologies including AI and has made rapid strides towards achieving the vision. The state government declared 2020 as the Year of AI to accelerate AI readiness and develop a conducive AI innovation ecosystem in the state, opening new avenues of Artificial Intelligence led innovation for social impact - especially in the public sector, he added.