Hyderabad, Sept 14:
The youngest state in the country, Telangana, has managed to beat its southern counterparts in attracting significant investments, according to a report brought out by industry body Assocham.
“The fruits of a slew of measures taken by the Telangana government in terms of providing an investor-friendly business environment are showing results. The state has beaten its southern peers by achieving the highest growth rate of 79 per cent in terms of attracting investments during financial year 2012 and FY 2017,” the report states.
In a presentation, the chamber said Telangana tops with 79 per cent growth, followed by AP (50.8 per cent), Kerala (18.9 per cent), Tamil Nadu (11.2 per cent) and Karnataka 0.2 per cent. This is as against an all-India average of 26.6 per cent growth.
After releasing the report, ‘Telangana: Economic growth and Investment performance,’ D.S. Rawat, Secretary-General, Assocham, and Babu Lal Jain, Senior Management Committee member of Assocham, said, “Telangana has also surpassed the national average growth rate of about 27 per cent in terms of attracting live investments during the five-year period under analysis.”
Rawat said, “Telangana has attracted total outstanding investments worth Rs 5.9 lakh crore as of FY 2017, which rose from Rs 3.3 lakh crore worth of investments attracted by the region as of FY 2012.”
According to the study taken up by the Assocham Economic Research Bureau, Telangana accounted for 3.3 per cent share of total investments worth over Rs 177 lakh crore attracted by the top industrial states as of FY 2017.
Over a fourth of investments Telangana attracted were in the irrigation sector (28 per cent), followed by non-financial sector (25 per cent), electricity sector (18.5 per cent) and manufacturing (11 per cent).
About 370 projects with investments worth about Rs 4 lakh crore are under different stages of implementation in the state, Rawat said.
The Assocham analysis shows that robust economic growth and better infrastructure availability have encouraged private sector participation. This has resulted in a sharp jump in investments.
(This article was published on September 14, 2017)
Please enter your email. Thank You.
Newsletter has been successfully subscribed.