KTR highlights Telangana's industrial progress

HYDERABAD: Minister for Industries and Commerce, K.T Rama Rao launched the Annual Report 2022-23 of the Industries and Commerce department and the Dashabdi Report of the Handlooms and Textiles department, at an event held at a startup incubator, here on Tuesday.

The Industries Department organized the “Telangana Parishramika Pragathi Dhinotsavam,” where Minister K.T. Rama Rao highlighted the industrial growth of Telangana, after launching the reports.

“Telangana's industrial advancements have not only strengthened the State's economy but also stimulated other sectors, including real estate,” he said acknowledging the exceptional progress achieved by Telangana in the industrial sector.

Expressing gratitude to the officers of the department, the minister emphasized the government's commitment to attracting domestic and international investments while creating employment opportunities.

He announced that Telangana currently holds the highest per capita income in the country, amounting to Rs. 3.17 lakh, and that the state’s GSDP has soared from Rs. 5 lakh crore in 2014 to an impressive Rs. 13.27 lakh crore today.

The minister emphasized the exceptional progress in the IT sector, with IT exports increasing from Rs. 57,000 crore in 2014 to Rs. 2.40 lakh crore in 2022-23. He also applauded the substantial growth of the IT sector, which has nearly tripled its workforce from 3.23 lakh employees to 9.5 lakh presently

KTR urged the people of the State to reflect on the improvements achieved since 2014 in areas such as drinking water, irrigation, education, and electricity supply. He encouraged a fair assessment of Telangana's progress and expressed optimism for a bright future.