HYDERABAD: IT & Industries Minister KT Rama Rao said on Saturday that the IT exports increased more than three times and touched Rs 1.83 lakh crore from Rs 57,000 crores eight years ago. While addressing CII Southern Region Council, KTR said that the per capita income of the State rose to Rs 1.24 lakh from Rs 2.78 lakh during the same time.
The GSDP of Telangana was Rs 5.05 lakh crore in 2014, and now it has grown to Rs 11.55 lakh crore. “If all regions witness growth such as Telangana, the GDP would cross $6 trillion. However, it is still pegged at $3.1 trillion economy,” he said.
Describing the growth of the State economy, KTR said that in the last eight years, 20,000 industrial proposals were approved and that translated into investments worth $35 billion (about Rs 2.83 lakh crore) and created nearly 16 lakh direct jobs.
He said that Hyderabad has emerged as an investment magnet, but the State Government was keen to promote tier-II cities as investment destinations so that local livelihoods could be strengthened. He also urged companies to set up their units in Telangana, where they will receive excellent administrative support.
“Telangana is currently focusing on the white revolution, fish/meat revolution, and yellow revolution (palm oil), in which growth can be witnessed shortly. Hyderabad is home to World’s largest pharma cluster established over 19,000 acres, the largest incubation centre T-Hub, and the largest prototyping center T-Works,” he said.
“Telangana’s TS-iPass is one of the best industry policies in the country, and we could issue all permissions to Amazon within 11 days, and its largest campus in the world is in Hyderabad,” KTR said, adding that all new-age companies, such as Facebook, Google, Micron have their big centers located in Hyderabad.