USA largest importer of goods from Telangana
Hyderabad: During 2020-21, Telangana exported merchandise goods worth Rs 64,539 crore. Pharmaceutical goods and organic chemicals constituted 65 per cent of the total goods exported. The USA was the largest importer of goods from Telangana, importing over 26.3 per cent of all exports by value, said Telangana Socio Economic Outlook 2022. In the year 2021-22 […]
Hyderabad: During 2020-21, Telangana exported merchandise goods worth Rs 64,539 crore. Pharmaceutical goods and organic chemicals constituted 65 per cent of the total goods exported. The USA was the largest importer of goods from Telangana, importing over 26.3 per cent of all exports by value, said Telangana Socio Economic Outlook 2022.
In the year 2021-22 (until January 2022), 3,185 approvals have been given through the TS-iPASS, bringing in new investments worth Rs 6,965 crore, Telangana ranked second among the land-locked states and sixth overall in terms of export preparedness as per the Export Preparedness Index 2020 published by NITI Aayog, it said.
Since 2016, Telangana has consistently ranked among the top three States in India in the Ease of Doing Business ranking since its introduction. This is also reflected from the State’s efforts through initiatives such as TS iPASS, and support by establishing a land bank of 1.5 lakh acre and 63 special economic zones.
Telangana has evolved from being a power deficit state in 2014 to a power surplus state, with a contracted capacity of 16.6 GW by August 2021, supplying uninterrupted electricity to more than 16 lakh industrial units in the State.
Sangareddy, Rangareddy, and Bhadradri Kothagudem districts received the highest investments in the State. The highest employment generation through the investments received under TS-iPASS happened in Warangal Rural district, accounting for 11.6 per cent of the total employment generated under TS-iPASS across the State.
There has been a steady rise in the number of approvals given to foodprocessing and agro industries between 2015-16 and 2021-22. Pharmaceuticals and chemicals have attracted an increasing share of
total investment, going from under 10 per cent of total investment in 2015- 16 to 46 per cent of all investments in 2021-22. Renewable energy has seen a doubling in its share of investment, from 10.4 per
cent in 2015-16 to 19 per cent by 2020-21.
Between 2016-17 and 2020-21, the IT sector remained the dominant sector producing new employment, contributing upwards of 50 per cent of all new employment generated by firms approved through TS-iPASS. However, in 2021-22, the bulk of new employment (42.9 per cent) came from the pharmaceutical sector.
On completion, the Hyderabad Pharma City is expected to be the world’s largest pharmaceutical cluster, with a potential investment of Rs 64,000 crore and employment to over 4.2 lakh individuals. The MedicalDevices Park is spread over 302 acres and has over 50 companies with manufacturing/ R&D capacity. The total investment in the park is close to Rs 1,424 crore, and it has generated over 7,000 jobs.
In 2017, the Government established the Kakatiya Mega Textile Park in Warangal, the highest cotton-growing district in the State. Spread over 2,000 acres, the park has an investment potential of Rs 11,586 crore. Major national textile companies like Ganesha Ecosphere, Youngone Corporation and Kitex have proposed investments of Rs 2,000 crore in the park. The State has also set up a new apparel park in Rajanna Sircilla in 2021 at a projected cost of Rs 174.8 crore. Several firms like Gokaldas Images and Texport Industries have committed to open plants in the park.
The food processing industry in Telangana processes 25 per cent of the output from the agriculture and allied sectors, and adds 12.5 per cent in value to marketed agricultural products. The State aims to attract Rs 25,000 crore in capital investment and provide a livelihood to over 70,000 people. The State has four major food processing parks in Nizamabad, Khammam, Jogulamba Gadwal, and Zaheerabad, the report said.
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 .
