Telangana attracts over Rs 1.96 lakh cr investments in five years
The cumulative investments attracted by TS-iPASS is Rs 1,96,404 crore
Telangana has attracted over Rs 1.96 lakh crore investments in five years since the launch of its TS-iPASS industrial policy.
Of the 12,021 projects approved under the policy, 9,021 or 75% have commenced operations. The projects have provided employment to about 13.90 lakh people, as per the 2019-20 annual report of the state’s Industries and Commerce Department.
The upcoming mega investment projects worth Rs 45,848 crore, with a potential to generate 83,000 employment opportunities, are in the pipeline across sectors, including information technology, automotive, textiles, electronics, life sciences, construction components and food processing.
The cumulative investments attracted by TS-iPASS is Rs 1,96,404 crore and the state continued to undertake Ease of Doing Business (EoDB) reforms.
The Telangana State Industrial Infrastructure Corporation allotted 1,520 acre to 526 industries during FY20 with an expected investment of Rs 4,859 crore and employment for nearly 8,500 persons.
According to the report, Telangana’s Gross State Domestic Product, at constant (2011-12) prices, grew 8.2 percent in 2019-20 to an estimated Rs 6.63 lakh crore. At current prices, GSDP grew 12.6%, year-on-year, to an estimated Rs 9.70 lakh crore.
The rate of growth, however, was less compared to the 2018-19 rate which was 9.5% at constant prices and 14.3% at current prices.
The listing out major investments across sectors with more than 800 pharma, biotech and medical technology companies in the state, Telangana has a combined enterprise value of $50 billion.
The state government has envisioned to grow the industry from $50 billion to $100 billion and create four lakh new jobs by 2030. In the food processing sector, projects with investments of over Rs 3,000 crore are under implementation.