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Pharma exports, which account for 44 per cent of total merchandise exports from Telangana, are set to soar with the setting up of a new pharma city.
According to the recently released Socio-Economic Outlook 2018, sector-wise analysis of merchandise exports reveals that the lion’s share of Telangana’s export earnings consists of pharma and chemical products.
Highest income
Pharma products earned the highest income from exports during 2016-17, at ₹17,744 crore, accounting for about 44 per cent of the total merchandise exports from the State.
Pharmaceutical exports also grew at 38.2 per cent in 2016-17 over the previous year.
This was followed by exports of organic chemicals at ₹8,497 crore, accounting for 24 per cent of total exports. Pearl and precious stones also registered high earnings.
The total merchandise exports registered 13.8 per cent growth at ₹40,322 crore against ₹35,444 crore in the previous year. From a national perspective, Telangana accounted for 2.18 per cent of total exports.
Pharma city
The government is also working on setting up a pharma city on about 19,000 acres in Mucherla in Ranga Reddy district. About 8,000 acres have been allotted for the purpose.
State Industries Minister KT Rama Rao announced in the Legislative Council last week that the Centre’s Environmental Clearance Committee had inspected the area and made some suggestions.
Once the clearance is obtained, land will be allotted to individual units. Once the pharma city becomes a reality, it is expected to further drive pharma industry and exports from the State.
Investment growth
There has also been ‘significant’ growth in investment proposals received by the State, says the outlook. Since the enactment of the Telangana State Industrial Project Approval and Self Certification (Ts-iPASS) Act, 2014, the State has received investment proposals worth ₹1,18,041 crore for setting up 6,117 industries with a potential employment generation for 4.42 lakh people as on January 25, 2018.
Of the total proposals received, 3,551 units have commenced operations with an investment of ₹32,558 crore and creating 1.58 lakh jobs.
The government has also notified 14 thrust areas and core sectors for harnessing the natural advantages of the State. They include life sciences, IT hardware, precision engineering, food processing, automobiles, textiles, plastics, FMCG, engineering goods, gems & jewellery, waste management and green technology.
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