Exports from Telangana beat lockdown
Despite the Covid-induced economic challenges, the State has been able record exports of $4.1 billion this financial year up to September 2020, a jump of 14 per cent over the same period year-on-year.
Hyderabad: Telangana is performing better in terms of exports than many other States, well above the national average. While the country saw an annual average growth rate of merchandise exports at 4.7 per cent between FY16 and FY20, the State witnessed a healthy growth rate of 8.1 per cent.
Despite the Covid-induced economic challenges, the State has been able record exports of $4.1 billion this financial year up to September 2020, a jump of 14 per cent over the same period year-on-year.
Highlighting the strengths of the State, David Rasquinha, MD, India Exim Bank told Telangana Today, “Telangana accounts for six per cent of the electronics production in India and has significant headroom for growth. Further, given the large presence of specialised sub-segments such as medical, electronics device, fabless chip design, and emerging industries such as electric vehicle and power electronics, Telangana is uniquely positioned to leverage the export potential across the niche areas.”
Telangana also accounts for substantial agricultural produce ranging from rice, maize, lemon, grapes, mango and soybean. In particular, the State accounted for the highest production of turmeric and sweet orange, third highest production of tea and coffee, and the fourth highest production of marine fish in the country.
The State is one of the fastest growing regions in India in terms of installation of solar power and ranks second in terms of solar power generation, after Karnataka. There are ample opportunities in the manufacturing of photovoltaic cells, which are mostly imported from China, he noted.
Telangana accounts for about one-third of the country’s pharmaceutical production, 40 per cent of total bulk drugs production and 50 per cent of the bulk drug exports from India in 2019-20. Over the last four years, Telangana has attracted more than Rs 10,000 crore investments in the life sciences sector.
Exim Bank chief further added, “On the logistics front, Telangana has performed almost at par with the coastal States such as Tamil Nadu and Maharashtra due to its single-window clearance system.”
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
