TG Gets Rs 3.25-Trn Investments In 3 Yrs
Of the total proposals, projects worth Rs75,000 cr have been completed: Report
TG Gets Rs 3.25-Trn Investments In 3 Yrs
The total outstanding investment projects in 2023-24 were at Rs8,25,982 cr and projects under implementation are worth Rs4,78,100 cr - Dr DS Rawat, Chairman, MSME EPC
Hyderabad: In the last three financial years (2021-22 to 2023-24), Telangana attracted new investment proposals of Rs3,25,110 crore and completed proposals of nearly Rs75,000 crore. This indicates that the State is increasingly becoming a preferred destination of national and foreign investors, said MSME Export Promotion Council, an advocacy group.
After releasing a study conducted by the MSME Export Promotion Council (EPC), Dr DS Rawat, Chairman, MSME EPC, said: “In 2021-22, the new investment proposals stood at Rs85,087 crore, this increased in 2022-23 to Rs1,33,102 crore, and as per the latest information with the Centre for Monitoring of Indian Economy, the investment proposal in 2023-24 is Rs1,06,921 crore.”
During the FY22-FY24 period, the private sector announced new investment projects of Rs62,500 crore, of which Rs7,022 crore worth projects are completed. The projects completed in 2021-22, were Rs22,380 crore, it’s Rs24,910 cr in 2022-23 and Rs2,70,910 cr in 2023-24.
The study further stated that as on January 7, 2025, the total outstanding investment projects in 2023-24 were at Rs8,25,982 crore and projects under implementation are worth Rs4,78,100 crore.
The study further mentions that the contribution of the industrial sector to the State’s economy has remained steady at about 18 per cent of the gross State value added (GSVA), and as of 2023-24, it stands at 18.5 per cent. The sector’s contribution to the State’s GSVA has increased by 10.1 per cent. The services sector, the primary contributor to the State’s economic growth, witnessed 14.6 per cent increase in GVA in 2023-24. Additionally, the total exports of principal commodities have increased to Rs1,16,527 crore in 2023-24, from Rs91,776 cr in 2022-23.
It was observed that Telangana has a 31 per cent share of software export in India. The number of startups had increased from 400 in 2016 to 2000 in 2022.The State contributed to 16.7 per cent of Indian IT sector employment as of FY2023.
