Telangana registers 150 per cent jump in new investment proposals: Study
The study on “Investment and Development in Telangana” was released on Friday by MSME EPC Chairman Dr DS Rawat
Hyderabad: Telangana has witnessed nearly 150 percent jump in new investment proposals in 2021-22 financial year creating over 60,000 new direct job opportunities as against the investment proposals received in 2020-21 financial year. The investment proposals during the 2021-22 financial year announced were for Rs.76,568.89 crore as against the Rs.31,274.56 crore proposals received of in 2020-21 financial year.
This was according to a study conducted by MSME Export Promotion Council (EPC) and the Confederation of Organic Food Products & Marketing Agencies. The study on “Investment and Development in Telangana” was released on Friday MSME EPC Chairman Dr DS Rawat.
During 2021-22, the total worth of projects completed were of Rs.22,079.59 crore and revived projects worth Rs.11,590.00 crore. The total investment projects outstanding were of Rs.7,19,388.39 crore and under implementation of Rs.4,90,985.24 crore, as per CMIE data. The study also revealed that there was substantial increase in investments by private sector in 2021-22 and reached to Rs.60,618.05 crore as against Rs.14,882.35 crore in 2020-21.
Despite the challenges during the pandemic year, the State achieved a positive growth rate of 2.2 percent despite the pandemic year, while the country’s GDP declined by 1.4 percent. It is attributed as “Progressive Telangana” by investors. Agriculture and allied sectors in Telangana remained strong throughout the pandemic. This was after achieving a robust growth in current price gross value added of 12.4 percent and 9.09 percent in 2020-21 and 2021-22 respectively.
Observations of the study
– Telangana remained a “Most favoured Location” for investors, especially in artificial intelligence, blockchain, cloud adoption, and cyber security fields.
– It was due to investment promotion and policy support of the State
– IT exports doubled from Rs.66,276 crore in 2014-15 to Rs.1,45,522 crore in 2021-22
– Employment also increased from 3.71 lakh in 2014-15 to over 7 lakh in 2021-22 in IT sector.
– Medical tourism became popular with nearly two lakh medical tourists availing treatment. It is expected that foreign tourists’ arrival will increase by 25 percent in 2023 and 35 percent by end 2024.
– Large numbers of micro and ancillary units are being set up in semi-urban and rural sectors. Of the 2.6 million MSMEs, 56 percent are in rural areas and 44 percent in urban areas, it is estimated.
– Due to State government’s policy initiatives, agro-based industries are being set up by local entrepreneurs.
