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Business Economy

Minister launches annual report of I&C Dept ; mega investment projects worth Rs 45,848 cr in pipeline

Hyderabad, Jun 23 (UNI) Telangana IT and Industries Minister K T Rama Rao has launched an annual report on Industries and Commerce Department which states mega investment projects worth Rs. 45,848 Crore and 83,000 employment potential were in the pipeline in the state across sectors such as IT, Automotive, Textiles, Electronics, Life sciences, Construction components and Food processing.,
Keeping COVID restrictions in mind, the report launch was a low-profile affair and it was held at Camp Office here attended by Principal Secretary ( ITE&C and I&C ) Jayesh Ranjan.
TS-iPass (Telangana State Industrial Project Approval and Self-Certification System), which was enacted by the Telangana government for speedy, single-point processing of applications for various clearances required to set up industries, contributed significantly in making the state first in EODB has completed 5 years in 2019, the report said.
TS-iPass has attracted cumulative investments of Rs.1,96,404 Crore so far and provided employment to about 13.90 lakh people and 75 per cent of total approved industries (9021 out of 12,021) have already commenced operations, it said.
The share of Telangana’s economy in National Gross Domestic Prodcut (GDP) has gone up by 21 basis point to 4.76 per cent in 2019-20, as against 4.55 per cent in 2018-19.
The state also recorded a per-capita income of Rs.2,28,216 compared to the national average of Rs.1,34,432 at current prices, the report said,adding that the Telangana share of Exports in India also grew from 10.61 per cent in (2018-19) to 11.58 per cent (2019-20).
Telangana has achieved an 8.2 per cent Year-Of-Year growth in Gross State Domestic Product (GSDP) at constant prices (2011-2012), and 12.6 per cent at current prices, compared to national average of 5.0 per cent YOY growth at constant prices and 7.5 per cent at current prices respectively, the report stated.
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