Telangana achieves 8.2 per cent industrial growth

KTR anual report
IT & Industries Minister along with Jayesh Ranjan unveiling the Industries Dept Annual Report 2019-2020 in Hyderabad. (Source: Twitter)

Hyderabad: Continuing with its impressive performance in the industrial sector, Telangana reported an 8.2 per cent year-on-year (YoY) growth in GSDP at constant prices (2011-2012) and 12.6 per cent at current prices, compared with the national average of 5 per cent and 7.5 per cent, respectively.

The share of Telangana’s economy in the national GDP has also gone up by 21 basis points to 4.76 per cent in 2019-20, against 4.55 per cent in 2018-19.

IT and Industries Minister KT Rama Rao on Tuesday released the annual report of the Industries and Commerce Department in a low-key affair at his camp office in Hyderabad following the coronavirus restrictions. Among the handful of officials present was Principal Secretary for IT and Industries Jayesh Ranjan.

The State’s share in exports from the country grew from 10.61 per cent in 2018-19 to 11.58 per cent in 2019-20. It also recorded a per capita income of Rs 2,28,216, almost double the national average of Rs 1,34,432 at current prices.

The TS-iPASS, which ensured the top slot for Telangana in Ease of Doing Business in the country, attracted cumulative investments of Rs 1.96 lakh crore in the past five years and created 13.9 lakh jobs. About 75 per cent of the total approved industries — 9,021 of the 12,021 units — have already commenced operations. Another Rs 45,848 crore investments are being pumped through upcoming mega projects, creating 83,000 new jobs across several sectors, including IT, automotive, textiles, electronics, life sciences, construction and food processing, among others.

Telangana achieves 8.2 per cent industrial growth

Hyderabad secured top spot in the country’s office space market in the second half of 2019 accounting for 8.9 million sqft compared with 7 million sqft in Bengaluru, according to global real estate firm Knight Frank. According to JLL’s 2019 overview update, Hyderabad has the highest level of net office absorption space in India with about 10.5 mn sqft (+330 per cent) being taken up by various investors setting up units/expansion in the State.

During 2019-20, Telangana also received the “Best Performing State” title by NITI Aayog’s SDG India Index 2019. Besides, Hyderabad was ranked first in the seventh edition of JLL’s Annual City Momentum Index in January 2020 for its holistic growth drivers and vision. It was ranked first again by Mercer as the city to live and second in the World Economic Forum’s list of most dynamic cities. The annual report also gave a glimpse of the State’s achievements in varied sectors like pharma and life sciences, aerospace and defence, food processing, handloom and textiles, among others.

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