Minister for ITE&C, Industries, and MA&UD Sri KT Rama Rao released the Industries & Commerce Department’s Annual Report 2021-22 at The Park Hotel today. In Telangana’s eighth year of formation, Sri KT Rama Rao released the Department’s report highlighting its performance, initiatives, and achievements.
Shri Jayesh Ranjan, Principal Secretary I&C Department welcomed the audience and said, “Despite the partial Covid related slowdown, Telangana has been able to attract a record number of investments in FY 2021-22 and the momentum is growing. After the lull in economic activities of the past 2 years, we are now gearing towards an accelerated growth phase in the State.”
Department officials including Mr. Jyoti Buddha Prakash, Secretary, Handlooms, Textiles, and Handicrafts, Mr. D. Krishna Bhaskar IAS, Director of Industries, Mr. EV Narasimha Reddy, VC&MD TSIIC attended the program. Industry representatives and heads from Industry Associations such as CII, FICCI, DICCI, FTCCI, TIF, ALEAP, COWE, and Assocham also participated in the event.
Investment MoUs were signed in the Electric Vehicle and Food Processing sectors. Representatives of various companies thriving in Telangana spoke about their growth and the Government support received in Telangana. Heads of the major Industry Associations also talked about the growth of the State in last eight years since its formation, and the contribution of their associations in supporting industries and government. This was followed by the launch of the I&C Department Annual Report.
On the occasion, Minister for Industries Shri KT Rama Rao proudly informed that “Telangana’s GSDP was Rs. 11.54 lakh crores with a growth rate of 19.1%. Our share in the national GDP has increased to 5.0%.” He added, “Telangana continues to attract major investments from national and global companies such as Malabar Gold & Diamonds, Pokarna Engineered Stone Ltd, Drillmec SpA, Ivanhoe Cambridge, Jamp Pharmaceuticals, Kitex group, Gloster Ltd., Triton EV, Liteauto, Gravton Motors, Biliti Electric, Amul, HCCB, Fishin’ Company, Mars Petcare, etc.”