HYDERABAD: Telangana’s Gross State Domestic Product (GSDP) grew by 10.4 per cent year-over-year and attracted investments of about Rs 58,000 crore in the fiscal year 2017-18. GSDP growth of the state was above national average of 6.6 per cent and the share of Telangana in National Gross Domestic Product has increased by 9 basis points during the financial year.
“Today, Telangana stands tall and is a pioneer not only in respect of policy making but also in attracting investments. We achieved 10.4 per cent growth in GSDP compared to 6.6 per cent of national average. The sector-wise contributions to the GSDP are: primary sector contribution at 18.2 per cent, secondary sector at 16.4 per cent and tertiary sector at 65.5 per cent. Telangana’s share in national GDP has gone up by 9 basis points to 4.37 per cent in FY 18 as against 4.28 per cent in FY 17. This is an impressive number as the population share of our state in country is 2.98 per cent but our contribution to national GDP is about 4.37 per cent, showing that Telangana is a performing state,” said Industries and Commerce Minister KT Rama
Rao, speaking after releasing the Telangana Industries Department annual report on Monday.
According to the report, Telangana ranked first in Ease of Doing Business and attracted `1,23,478 crore investments through its flagship initiative TS-iPass since June 2015, with 47 per cent of it being achieved in FY 18. Among the total investments, foreign investments account for about 10 per cent. TSIIC developed 148 industrial parks during the year and allotted 195.25 acres of land to 460 industries.
“Hyderabad Pharma City has received an in principle nod environment clearance from the Committee. Now this has been sent for clearance from Ministry of Environment and Forests. It will attract investments of `64,000 crore and create employment for 4.20 lakh people. Kakatiya Mega Textile Park being set up in 200 acres with a potential investment of Rs 13,586 crore and direct employment potential for 1.3 lakh people, is nearing completion with respect to infrastructure stage,” said KTR said. He also said that the revival process for Sirpur Paper Mills has begun. JK Paper has come forward and after a formal approval, within a year-and-half manufacturing might begin again.
