Telangana State gets 1.23L cr investments in 3 yrs

Hyderabad: Telangana received total investments of Rs 1.23 lakh crore investments in the last three years, according IT and Industries Minister K T Rama Rao. The newly-created State attracted these investments after it brought in TS-iPASS, its new industrial policy, in June 2015.

Speaking after releasing the Annual Report 2018 of Telangana’s Industries Department here on Monday, KTR said Telangana achieved 10.4 per cent year on year growth in Gross State Domestic Product, compared to the national average of 6.6 per cent y-o-y growth in 2017-18. The share of Telangana's economy in the national GDP went up by nine basis points in the last fiscal.

"Started in June 2015, TS-iPASS has attracted total investment of Rs 1,23,478crore of which 47 per cent was contributed in the last financial year," he said. These investments are estimated to generate 5.27 lakh new jobs.

The Telangana State Industrial Infrastructure Corporation (TSIIC) developed 148 industrial parks with core infrastructure during fiscal 2017-18 and allotted 195.25 acres of land to 460 industries, he said. The State Government also exchanged MoUs with National Productivity Council, the Quality Council of India and Central Institute of Tool Design, the Minister said.