Hyderabad: Telangana state has attracted investments worth Rs 17,867 crore in 2021-22 through 3,938 new industries and created 96,863 jobs, according to the annual report 2021-22 of the industries and commerce department that was released by industries minister K.T. Rama Rao here on Monday. He said the state attracted cumulative investments of Rs 2,32,311 crore creating 16.48 lakh jobs in the last eight years through TS-iPASS.
Rao said despite the Covid-induced economic slowdown and zero support from the Centre, Telangana continued to perform well in the industries and commerce sectors. It attracted major investments from national and global companies.
Urging the Centre to support progressive states like Telangana, Rao accused them of not extending any support to states that were politically not aligned to it.
“Economic development should be at the centre-stage and occupy the front seat at all times while politics should take the backseat. We should not think about elections forever,” he said, adding that many initiatives announced by the Centre were limited to only slogans. “Telangana’s GSDP was Rs 11.54 lakh crore with a growth rate of 19.1%. Our share in the national GDP has increased to five per cent,” Rao stated.
He added “Telangana continues to attract major investments from national and global companies such as Malabar Gold & Diamonds, Pokarna Engineered Stone Ltd, Drillmec SpA, Ivanhoe Cambridge, Jamp Pharmaceuticals, Kitex group, Gloster Ltd., Triton EV, Liteauto, Gravton Motors, Biliti Electric, Amul, HCCB, Fishin’ Company and Mars Petcare.”
TSIIC developed 13 new industrial parks, allotted 810 acres of land to 526 industries with an expected investment of Rs 6,123 crore and employment generation of 5,626 during 2021-22, he said.
Life sciences and pharma sector attracted 215 investment proposals in 2021-22 worth Rs 6,400 crore, with a proposed employment of 34,000.
The new investments are almost 200 per cent more than the previous year, Rao added.
Referring to Prime Minister Narendra Modi’s talk of India becoming a $ 5 trillion economy, Rao asked, “How will it happen if we do not think of scale? We have to work together on this. If Telangana can think of creating the largest pharma manufacturing cluster, the largest textile park and also the largest medical devices park, why cannot the Government of India think of achieving scale,” he said adding that stronger states will mean a stronger country.
Meanwhile, investment MoUs were signed in the electric vehicle and food processing sectors on the occasion.
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