Telangana attracted Rs 1.23 lakh cr investments in 3 years, says IT and industries minister K T Rama Rao

Hyderabad: Telangana has so far attracted over Rs 1.23 lakh crore investments after implementing TS-iPASS, the state's new industrial policy which came into being from June 2015, IT and Industries Minister K T Rama Rao said on Monday.

Releasing the State's Industries and Commerce Annual Report 2018 here,he said Telangana achieved 10.4 percent year on year growth in Gross State Domestic Product, compared to the national average of 6.6 percent y-o-y growth in 2017-18.

KT Rama Rao, Industries & IT minister, Telangana

KT Rama Rao, Industries & IT minister, Telangana

The share of Telangana's economy in the national GDP increased by nine basis points in the last fiscal, he said.

"Started in June 2015, TS-iPass has attracted total investment of Rs 1,23,478 crore,of which 47 percent was contributed in the last financial year," he said.

The TSIIC (Telangana State Industrial Infrastructure Corporation) developed 148 industrial parks with core infrastructure during fiscal 2017-18 and allotted 195.25 acres of land to 460 industries,he said.

The State Government also exchanged MoUs with National Productivity Council, the Quality Council of India and Central Institute of Tool Design, the minister said.

"These MoUs will help spread awareness about Lean manufacturing practices, smart manufacturing, Industry 4.0, ZED (Zero Effect and Zero Defect) scheme and skill development among local manufacturing units," he said.

The minister also launched the CSR portal to mobilize resources for the development of people, community and the environment.

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Updated Date: Jun 04, 2018 19:54:59 IST

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