Telangana clocks 150% growth in investments
Telangana received Rs76,568.89-cr worth investment proposals in FY22 as against Rs31,274.56 cr in FY21, says MSME EPC report
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Gaining Steam
- Pvt investment was Rs60,618.05 cr in FY 22 as against Rs14,882.35 cr in FY21
- IT exports doubled from Rs66,276 cr in FY15 to Rs1,45,522 cr in FY22
- IT employment grew from 3,71,774 FY15 to over 7 lakh in FY22
Hyderabad: Telangana witnessed nearly 150 per cent jump in the new investment proposals in FY2021-22 creating over 60,000 new direct job opportunities as against the investment proposals received in the previous year, according to a latest study carried out by the MSME Export Promotion Council (EPC) and the Confederation of Organic Food Products & Marketing Agencies.
Around Rs76,568.89-crore worth investment proposals were announced during FY22 as against Rs31,274.56-crore worth proposals received in previous fiscal. While Rs22,079.59-crore worth projects were completed in FY22, the projects worth Rs11,590 crore were revived and the total investment projects outstanding were of Rs7,19,388.39 crore and under implementation of Rs4,90,985.24 crore. Releasing the study on ‘Investment and development in Telangana,’ MSME EPC Chairman Dr DS Rawat said that there has been a huge jump in investment by private sector in 2021-22 and touched Rs60,618.05 crore in FY 22 as against Rs14,882.35 crore in a year-ago period. Similarly, there has been a manifold increase in the investment projects.
“Telangana has achieved a positive growth rate of 2.2 per cent even in the pandemic year, while the country’s GDP declined by 1.4 per cent. Agriculture and allied sectors in the State remained strong throughout the pandemic year and after, achieving a robust growth in current price gross value added of 12.4 per cent and 9.09 per cent in 2020-21 and 2021-22 respectively,” he said in a statement.
Telangana has successfully attained a ‘most favoured location’ for the investors particularly for next generation sectors like artificial intelligence (AI), blockchain, cloud adoption, and cyber security. The study found that the IT exports have more than doubled from Rs66,276 crore to Rs 1,45,522 crore and employment in IT sector grew from 3,71,774 to over 7 lakh between 2014-15 and 2021-22 respectively.
Tourism sector has been growing at a fast rate especially the medical tourism is becoming popular. Around two lakh medical tourists have availed treatment here. Majority of the foreign tourists were drawn from Africa, The Common Wealth of Independent States and Gulf countries and it is expected that there will be an increase in the arrival of foreign tourists by 25 per cent in 2023 and 35 per cent by end 2024.
Telangana has achieved a positive growth rate of 2.2% even in the pandemic year, while the country’s GDP declined by 1.4%. Agriculture and allied sectors in the State remained strong throughout the pandemic year and after
- Dr DS Rawat, chairman, MSME EPC
