Formed on 2 June, 2014, being the youngest state, it has covered milestones in short duration. In comparison to national average growth rate of 20.8 %. Telengana growth rate in attracting industrial investments is 79 %. Favourable climatic and demographic conditions along with industry-friendly policies of the State government has led to tremendous growth in doing so.
Hyderabad, attracts people from all over the country due to its moderate temperature, the reason why it is also termed as Mini India. Even foreigners too prefer staying here, making it the most attractive hub among the country. It was also ranked among the best top 20 global cities in JLL’s City Momentum Index (CMI) 2019.
IT and Pharma sectors have huge establishment over here, enhancing its per year growth in every possible way. Telangana State Industrial Project Approval and Self Certification System (TS-iPASS) Act has been levied to ensure proper functioning of the industries without any chaos As a result it helped to boost its economy, giving employment to approx. 14 lakh people in the state. Due to the establishment of the act, more than 12, 427 industries were set up and mainly boosted 14 sectors including food processing, IT, pharma, power, plastic, engineering, agro-based, granite stone crushing, electrical, electronics, paper, printing, textile, cement, aerospace, solar and automobile.
Further, brands too are also adding to the glory. IKEA established a furniture and textile unit with an investment of about Rs 600 crore, Coca Cola Company has come up with an investment plan of Rs 1,000 crore. Many more are seeking to join the brigade.