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Hyderabad: Telangana has attracted new investment proposals worth Rs.3,25,110 crore in three consecutive financial years (between 2021-22 and 2023-24). It has also completed record proposals of nearly Rs 75,000 crore, according to a study conducted by the MSME Export Promotion Council.
During this period, the private sector has announced new investment projects worth Rs 62,500 crore, completing proposals worth Rs 7,022 crore.
In 2021-22, the new investment proposals totalled Rs 85,087 crore. Then in 2022-23, there was a significant jump where the figure touched Rs.1,33,102 crore and in 2023-24 the figure stood at Rs1,06,921 crore, as per the latest information with the Centre for Monitoring of Indian Economy (CMIE). The MSME EPC Chairman Dr D S Rawat, while releasing the study on Wednesday, said the state is increasingly becoming a preferred destination for national and foreign investors.
In 2021-22, the projects completed were of Rs 22,380 crore. In 2022-23, Rs 24,910 crore and in 2023-24 completed projects totalled Rs 2,70,910 crore.
As per the information, as on 7 January 2025, the total investment projects outstanding in 2023-24 was worth Rs 8,25,982 crore. Projects under implementation was Rs 4,78,100 crore.
Also the total exports of principal commodities in 2023-24 increased from Rs 91,776 crore in 2022-23 to Rs.1,16,527 crore. The per capita GSDP in 2023-24 also went up from Rs 3,45,225.7 to Rs 3,93,384.5.
Industrial sector's contribution to the state's economy has remained steady at around 18% of the gross state value added and as of 2023-24, it stands at 18.5%. In all, the sector's contribution to state's GSVA has increased by 10.1%. The services sector, the primary contributor to the state's economic growth, witnessed a remarkable 14.6% increase in GVA in 2023-24.
It was observed that Telangana has a 31% share of software export in India. The number of start-ups had increased from 400, in 2016, to 2000 in 2022.
The state contributed to 16.7% of Indian IT sector employment as of FY 2023. Telangana's IT/ITeS exports grew at 17.93% compared to the national average of 8.09%. It's estimated that by 2027, state'sIT/ITeS exports may touch 23% and generate additional direct jobs to over 3,00,000 people and help state's administration to create more IT/ITeS hubs in the state and this sector alone may provide jobs to over 13 lakh people. Telangana has facilitated nearly 56% of the estimated 2.6 million MSMEs in the state in the rural areas and 44% in urban areas.