Telangana has attracted new investment proposals worth ₹3.25 lakh crore in the last three, according to a study conducted by the MSME Export Promotion Council. During the period, the private sector announced new investment projects of ₹62,500 crore.
While 2021-22 saw new investment proposals to the tune of ₹85,087 crore, 2022-23 witnessed investment proposals worth ₹1.33 lakh crore. In 2023-24, the State witnessed ₹1.06 lakh crore, MSME EPC Chairman D S Rawat said quoting the Centre for Monitoring of Indian Economy (CMIE).
He said the State is increasingly becoming a preferred destination for investors from India and abroad.
The second edition on ‘the Study on Investment, Development and Growth in Progressive Telangana – Emerging Unlimited Opportunities’ is aimed at creating awareness among existing and potential new investors about the investment opportunities in the State.
2.6 million MSMEs
It is estimated that Telangana is home to about 2.6 million MSMEs (micro, small and medium enterprises), out of which 56 per cent are in rural areas and 44 per cent in urban areas.
Projects worth ₹22,380 crore were completed in 2021-22, while the following year witnessed completion of projects with an agreement investment of ₹24,910 crore. Last year, the State witnessed the completion of projects worth ₹2.70 lakh crore.
The industrial sector’s contribution to the State’s economy has remained steady at around 18 per cent of the gross State Value Added (GVA) and as of 2023-24 it stands at 18.5 per cent. The services sector, the primary contributor to the State’s economic growth, witnessed an increase of 14.6 per cent in GVA in 2023-24.