Latest News | Telangana Draws Investments Worth Nearly Rs 18k Cr in FY22

Hyderabad, Jun 6 (PTI) Telangana has attracted Rs 17,867 crore worth of investment in FY 2021-22 through 3,938 new industries and created employment for 96,863 people, Telangana Industries & Commerce Department's Annual Report 2021-22 said.

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Minister for Industries and IT KT Rama Rao released the report on Monday.

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Cumulatively the state attracted investments of Rs.2,32,311 crore creating 16.48 lakh jobs during the past eight years after the TS-iPASS (Telangana State Industrial Project Approval and Self-Certification System) came into force.

"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," Rama Rao said.

Telangana State Industrial Infrastructure Corporation developed 13 new Industrial Parks, allotted 810 acres of land to 526 industries with an expected investment of Rs. 6,123 crore and employment of 5626 during FY2021-22, the report further aid.

Life Sciences and Pharma sector attracted 215 investment proposals in 2021-22 worth Rs 6,400 crore, with a proposed employment of 34,000. The new investments are almost 200 per cent more than the previous year, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)