HYDERABAD: Telangana is steadily emerging as one of the leading states for merchandise exports and IT exports in the country with a rise in export growth rates, revealed Social Economic Outlook-2019.
Merchandise exports worth Rs 50,510 crore were exported from the State in 2018-19, as against Rs 42,363 crore the previous year. During the same period, IT exports accounted for Rs 1,09,219 crore. The growth rates stand at 17 and 19 percent respectively.
In the case of IT exports, the growth is higher than the national growth rate of 7 to 8 per cent. In fact, the State contributes to over 11 percent share of the total country’s IT exports.
Interestingly, a major share of total merchandise exports, about 30 per cent, were ‘organic chemicals’ and another 29 per cent is from pharmaceutical products. These two segments accounted for about 59 per cent, the report said. Significant growth was observed in the industrial sector as well. The total number of working manufacturing units in the State in 2015-16 increased to 12,353 from 11,995 in 2014-15. The sector recorded three per cent of growth year in a year.
Similarly, production value also increased from Rs 1,63,381 crore to Rs 2,03,547 crore, a growth of about 25 per cent, over the previous year. The total Gross Value Added (GVA) of manufacturing units in the State has been Rs 33,234 crore in 2014-15.
The services sector also has emerged as a major growth-inducing sector in Telangana. The share of services in the GSDP increased significantly from 57 per cent in 2013-2014 to 65 per cent in 2018-19.