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.

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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: