Telangana State achieved an 8.2 per cent year-on-year (YOY) growth in GSDP at constant prices (2011-2012), and 12.6 per cent at current prices, compared to national average of 5 per cent YOY growth at constant prices and 7.5 per cent at current prices. The share of Telangana’s economy in national GDP has gone up by 21 basis point to 4.76 per cent in 2019-20, as against 4.55 per cent in 2018-19.
IT and Industries Minister KT Rama Rao on Tuesday released the annual report of Industries and Commerce department at a low-key affair held at his camp office in Hyderabad on Tuesday, in view of the COVID-19 restrictions. As per the annual report, the State’s share of Exports in India grew from 10.61 per cent in (2018-19) to 11.58 per cent (2019-20). It has also recorded a per-capita income of Rs 2,28,216 compared to the national average of Rs 1,34,432 at current prices.
The TS-iPASS, which ensured top slot for Telangana State in terms of Ease of Doing Business in the country, attracted cumulative investments worth Rs 1.96 crore in the past five years and created 13.9 lakh jobs. About 75 per cent of total approvd industries amounting to 9,021 of 12,021 have already commenced their operations. Another Rs 45,848 crore investments are being pumped through upcoming mega projects, creating 83,000 new jobs across varied sectors including IT, automotive, textiles, electronics, life sciences, construction and food processing among others.
Hyderabad secured top spot in the country’s office space market in second half of 2019 with transactions worth 8.9 million sq.ft compared to 7 million sq.ft for Bengaluru, according to global real estate firm Knight Frank. According to JLL’s 2019 overview update, Hyderabad has the highest level of net office absorption space in India with about 10.5 Mn sq.ft (+330 per cent) being taken up by various investors setting up units/expansion in the State.