Telangana committed to wooing global investments, employment creation: KTR

Telangana IT and Industries Minister KT Rama Rao reiterated the BRS government's commitment to attracting domestic and international investments while creating employment opportunities

Telangana committed to wooing global investments, employment creation: KTR

HYDERABAD: Telangana IT and Industries Minister KT Rama Rao (KTR) on Tuesday reiterated the BRS government's commitment to attracting domestic and international investments while creating employment opportunities.

The minister released the annual reports on the performance of Industries, Commerce and Handlooms and Textile departments in Telangana for 2022-23 at T-Hub. He said that the objective of the Telangana Model, characterised by holistic, integrated, inclusive and balanced development, was to achieve economic, social and industrial progress in harmony.

KTR reiterated the State government's commitment to innovation, exemplified by the establishment of T-Hub, the largest technology hub and workspace in the country. He pointed out that the story of Telangana had just begun and a lot more had to be achieved in the coming years. “Telangana is a very rare and unique state which was achieved after a 14-year-old struggle and due to the sacrifices of several youths,” he said.

Giving an account of Telangana’s achievements since its formation in 2014, the minister highlighted Telangana's outstanding achievements in terms of per capita income and Gross State Domestic Product (GSDP). “Telangana currently holds the highest per capita income in the country, amounting to Rs 3.17 lakh, which demonstrates the state's economic strength. Additionally, Telangana's GSDP has soared from Rs 5 lakh crore in 2014 to an impressive Rs 13.27 lakh crore today, indicating significant industrial growth. All the figures announced regarding IT exports are scrutinized by experts and there is no scope for irregularities,” he asserted.

Elaborating further, the minister said that the State’s progress extended across various sectors including agriculture, ensuring inclusivity and benefiting all segments of society, from rural to urban areas, and from the poor to the rich. To compete globally and attract investments, the State government undertook massive infrastructure development projects, he said, adding that these initiatives included the construction of the Kakatiya Mega Textile Park in Warangal, the largest textile park in India, and Hyderabad Pharma City, poised to become the world's largest pharma cluster.

KTR said that Telangana had also made significant strides in the pharma sector, with the establishment of the largest medical devices park in Sultanpur and the presence of the world's largest stent manufacturing unit. Elated KTR also proudly proclaimed Hyderabad as the vaccine capital of the world, with over half of the world's vaccines projected to be manufactured in the city by next year. The recently launched Telangana Mobility Valley, similar to the success of Genome Valley in the life sciences sector, has garnered excellent response from the industrial community and is expected to contribute significantly to the state's progress in the automobile industry, he stated. Telangana's industrial advancements have not only strengthened the State's economy but also stimulated other sectors including real estate, the minister said.

Expressing pride both as a minister and a citizen, he acknowledged the exceptional progress achieved by Telangana in the industrial sector. He commended the State's pioneering projects, such as the world's largest lift irrigation project, Kaleshwaram, and Mission Bhagiratha, which provides drinking water to households. Telangana has consistently been at the forefront in fields like education, medicine, irrigation, drinking water, and the environment, receiving numerous national awards and international accolades for its achievements. KTR urged the people of the state to reflect on the significant improvements achieved since 2014 in areas such as drinking water, irrigation, education and electricity supply.

Later, the minister also felicitated the employees of Telangana State Industrial Infrastructure Corporation (TSIIC), IT, Electronic and Communications, Industries and Commerce, Textile departments.

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