Telangana preferred destination for investments
The State has made sure that ‘Made in Telangana’ is now a tagline that is being seen and used by people across the globe
Hyderabad: Made in Telangana is no more a local slogan, and neither has it remained a mere slogan. The State has made sure that ‘Made in Telangana’ is now a tagline that is being seen and used by people across the globe.
From stents and catheters hitting markets in almost 90 countries, to a precision engineering unit supplying critical rotating parts for nuclear turbines to be assembled in France and a start up from Hyderabad developing India’s first private rocket, Telangana’s industry is on a roll and how! Banking on its leadership and industry-friendly policies, the State is surging ahead in development of its industrial and manufacturing sectors, besides generating employment.
In 2022-23 (up to January 2023), TS-iPASS has approved 2,518 units, which have resulted in new investments worth Rs 20,237 crore. The Government of
Telangana has also signed an agreement with the Thailand government for mutual cooperation in SMEs and startups. This is the first time that an MoU has been signed between the Thai Ministry of Commerce and a State government from India.
In the last seven financial years, Telangana has become preferred destination for investments and home for leading multinational companies. Between 2014-15 and 2021-22, the Compounded Annual Growth Rate (CAGR) of Telangana’s industrial sector is 10.12 percent, which is second highest among the South Indian states.
Similarly, the Telangana CAGR in the state’s Manufacturing sub-sector is 12.21 percent, which was the highest When compared to the CAGR at the national level CAGR between 2014-15 and 2022-23 financial years, two out of the four sub-sectors of Telangana’s industrial sector have recorded a higher CAGR than the CAGR at the national level.
In the Manufacturing sector too, CAGR in Telangana was about 1.4 times that at the national level and the Electricity and Utilities sector’s CAGR was approximately 1.1 times the national CAGR.
In 2022-23, the industries sector’s contribution to the State’s Gross Value Added (GSVA) was 18.96 percent and it provided employment to 21 per cent of the working population.
