Telangana has recorded a GSDP growth of 10.4 per cent during 2017-18, much higher than the national average of 6.6 per cent year on year growth of 6.6 per cent. Similarly the share of Telangana’s economy in the national GDP has also increase 9 basis points to 4.37 per cent during the same period. It was 4.28 per cent last year.
State Industries Minister K Taraka Rama Rao released these figures on Monday while launching the annual report of the Industries department in Hyderabad.
Highlighting the features of the industrial growth in the State he said that TS-iPass had played a major role in it by making the entire processing of investments very easy and transparent and helped significantly in getting the number 1 rank to Telangana in ease of doing business.
Under the TS-iPass, launched in June 2015 the State has attracted a total investment of Rs 1.23 lakh crore, 47 per cent of which was in the last financial year. During 2017-18 the state Industrial Infrastructure Corporation developed 148 industrial parks with core infrastructure and allotted 195.25 acres of land to 460 industries, he said.
On this occasion he also presented awards to top industrialists and companies of the State.