HYDERABAD: Telangana, along with four other States, is contributing 70 per cent of the total international exports of the country. The Economic Survey 2017-18 released by the Union Finance Ministry stated that the State is contributing 6.4 per cent of the total exports of goods and services of the country and stands at the fifth place while the sibling AP occupied the 9th place in the list. This is the first time that such a survey has been undertaken after the implementation of Goods and Services Tax (GST).
“This year’s GST returns provide direct data on inter-state trade and its many related dimensions. Even more exciting is that for the first time in India’s history it is possible to know the state-wise distribution of international exports of goods and services. Five states — Maharashtra, Gujarat, Karnataka, Tamil Nadu, Telangana — in that order, account for 70 pc of India’s exports,” the Survey stated.
“Since data is available for the first time, one can immediately answer the question of whether prosperity is related to export performance. The conventional wisdom is correct: a state’s GSDP per capita is highly correlated with its export share in GSDP (for the 20 major states),” the survey revealed. Last year’s survey had estimated that country’s inter-state trade in goods was between 30 and 50 per cent of GDP. However, the GST data suggested that country’s internal trade in goods and services (excludes non-GST goods and services) is actually even higher: about 60 pc of GDP. However, in inter-state trade, the State’ performance was poor when compared to sibling AP. Telangana’s inter-state exports was just 3 per cent as against 3.6 per cent. TS imports stood at 3.7 pc, whereas AP’ imports are 4.7 per cent.
The exports of IT and bulk drugs from the State helped it gain the fifth place in the list. IT exports from the state are accounted for Rs 85,470 crore in 2017 and bulk drugs exports are close to `1.5 lakh crore. For the first time, the GST made the state-wise data clear, Commercial Taxes principal secretary Somesh Kumar told Express.