TELANGANA A manufacturing magnet attracting billions

Telangana, the youngest state in India, is rapidly transforming into a manufacturing powerhouse, attracting a surge of investments from both domestic and global giants. It has become a burgeoning hub for industrial growth, securing substantial investments.

Telangana’s thriving industrial landscape witnessed an influx of Rs 2,60,028 crore in investments from 2014 to 2023, driven by the state’s robust industrial policy, TSiPASS. The State At a Glance 2023 report, released by the new government, highlights the creation of 17.54 lakh jobs through these investments. The Telangana State Industrial Project Approval and Self Certification System, a groundbreaking initiative, played a pivotal role in facilitating investments and expediting industrial approvals.

As the new government takes charge, its focus on industrial growth, particularly in the Micro, Small & Medium Enterprises (MSMEs) sector, is evident. Minister for Industries D Sridhar Babu and Chief Minister A Revanth Reddy are spearheading initiatives to foster a conducive investment ecosystem, continuing the positive trajectory set by the previous administration. The commitment to a new MSME policy and the continuation of key policies like Life Sciences and e-mobility valley underscore Telangana’s dedication to sustained economic growth.

The state’s economic diversity is highlighted by its sector-wise contributions, with services leading at 63%, followed by manufacturing at 17%, and agriculture at 21% in 2022-23. Telangana’s FDI inflows showcase its appeal, experiencing a 61% YoY increase in Q1 2023, despite a slight dip in total FDI for 2022-23.

Key sectors contributing to Telangana’s economic prowess include: