Industries minister KT Rama Rao declared that Telangana's narrative had just begun and that the state's Gross State Domestic Product (GSDP) was Rs.13.27 lakh crore at current prices, representing a growth rate of the GDSP at current prices of 15.6% in the fiscal year 2022–2023. Similar to this, telangana has the highest Per Capita Income (PCI) in the nation as of march 31 this year, at Rs. 3.17 lakh. He noted that this was lower than the national average of Rs. 1.70 lakh.

The minister stated that at constant prices, Telangana's Gross State Domestic Product (GSDP) stood at 7.45 percent, compared to India's GDP growth rate of 6.95 percent, as the industries Annual Report 2022–23 was released as part of telangana Parishramika pragathi Dinotsavam on Tuesday. "This is only a trailer, and it's only the beginning. The big film hasn't been released yet," he continued.

The comprehensive, integrated, inclusive, and balanced growth of Telangana's model is what sets it apart from others, with the ultimate goal of attaining industrial, social, and economic advancement in unison. The State administration, he claimed, launched substantial infrastructure development projects to compete worldwide and draw investors. The minister highlighted the outstanding success in the IT industry, with IT exports rising from Rs. 57,000 crore in 2014 to Rs. 2.40 lakh crore in 2022–23. He also issued the Dashabdi Report of the Handlooms and Textiles Department.

T-Hub, the largest prototype facility in the world, T Works, and the IMAGE Innovation hub in multimedia, animation, gaming, and entertainment were all located in Hyderabad. The minister stated that with these three buildings, this would be the largest innovation campus in the world at 18 acres, and that was the chief minister K Chandrashekhar Rao's intention.

The largest textile park in india was established by telangana in warangal in 2017 before the Centre awoke and unveiled the MITRA textile park programme in 2023. He said that the groundbreaking ceremony for the South Korean-based Youngone Corporation will take place on june 17 at the Kakatiya Mega Textile Park and that one unit was already operating and eight units were scheduled to open in august and September.

On the other hand, hyderabad Pharma City was positioned to surpass all other pharma clusters globally. He said that Hyderabad's pharmaceutical and vaccine industries have grown into major players on the global stage. "The hyderabad pharma industry saved india and the US as well during the pandemic, when US President donald trump called prime minister Narendra Modi for Paracetamol and Remdesiver," Rama Rao added.

The State government set a goal of $100 billion for Telangana's life sciences ecosystem in 2020, with a goal date of 2030. The ecosystem will reach the goal by 2025 and was already worth $80 billion in january 2023. He stated that the new goal was $250 billion by 2030.

With 33% of the world's vaccines being produced there, hyderabad has developed into the vaccine capital of the world, he said. "At the moment, the State produces 900 crore doses. 1400 crore doses will be produced by the end of the next year, accounting for 50% of global output, according to Rama Rao.

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SIBY JEYYA

07/06/2023 08:09 AM