Telangana: ‘IT exports hit 1.83 lakh crore in 8 yrs’, says KTR

Hyderabad: Telangana IT and Industries minister KT Rama Rao (KTR) on Saturday said that the IT exports of the state have increased to Rs 1.83 lakh crore in the last eight years.

KTR further claimed that Telangana’s IT exports stood at Rs 57,000 crores eight years ago. The minister further stated that the per capita income also rose to Rs 1.24 lakh from Rs 2.78 lakh during the same time. The GSDP of Telangana was Rs 5.05 lakh crores in 2014, and now it has grown to Rs 11.55 lakh crores, the minister claimed.

KTR further stated that if all regions witness growth such as Telangana, the GDP would cross USD 6 trillion. However, it is still pegged at a USD 3.1 trillion economy. Speaking of the economic progress in Telangana, the minister said that in the last eight years, 20,000 industrial proposals were approved and that translated into investments worth USD 35 billion (about Rs 2.83 lakh crore) and created nearly 16 lakh direct jobs.

The minister stressed the need to promote tire two cities in Telangana as investment friendly and said that Hyderabad has emerged as an investment magnet already.

Addressing the CII Southern Region Council, the minister said, “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 centre T-Works.”

“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,” he added.