Telangana’s industrial scenario grim as new units dwindle
Though the current financial year is half way through, approvals have been accorded for only 724 units, which is much lesser than compared to the last financial year.
Hyderabad: In a not so encouraging indication of the industrial scenario in Telangana, the number of new industrial units being set up in the State appears to be on a descent.
Though the current financial year is half way through, approvals have been accorded for only 724 units, which is much lesser than compared to the last financial year.
In the 2023-24 fiscal year, approvals were issued for 2,680 units resulting in an investment of Rs.28,155.57 crore.
This fiscal year so far, approvals were issued for 724 units with a total investment of Rs.4,763.58 crore. In terms of employment too, the numbers present a grim picture.
In the last financial year, employment was generated for 84,971 and this financial year, it is still at 17,911. With six months left for the financial year to close, will the issue of approvals pick up pace is the big question.
In the past, Telangana had built an image of working with speed and investors secured permissions without any hassles under TG-iPASS (then TS-iPASS), with Foxconn chairman Young Liu famously appreciating what he called ‘Telangana Speed’.
However, that was in 2023. Things have changed, with a few reputed companies even shifting base from Telangana. That was not all. Amaraja Raja Energy and Mobility chairman Jayadev Galla had recently expressed concerns over the State government’s financial health and whether it would be able to commitments made to the firm, failing which his group might have to ‘look elsewhere’ for its plant’s capacity expansion.
Though the days ahead appeared to look promising, especially after Chief Minister A Revanth Reddy claims of securing investments worth Rs.40,232 crore from Davos and investments worth Rs.31,500 crore during his US trip, the register of new units in the State hasn’t had as many entries as last year, or the year before.
