Actual information of the progress of industries of Telangana
Telangana gross state domestic product expanded at a rate of 13.5 % to $71.1 billion from 2004 to 2014-15. The service sector has been a large contributor to the state. It is also the hub for information technology and the pharmaceutical sectors. The IT export contributed to $ 10.99 billion and had a growth of 15.7 %. The state also accounts for 20% of the nation’s total pharma exports. We can see the several major manufacturing and the services industries operating here. The other key Automobiles and auto components industry industries are apparels, textiles, poultry farming, horticulture, mines, spices, minerals, etc. The infrastructure is favorable for industry set up and business in the modern sectors of industries. There are also MSME industries in Telangana that contribute to the economy of the state. Telangana is rapidly developing and being a new state it has taken a few steps that emphasizes on industry development.
Present situation in Telangana
The central govt has plans for Telangana and has announced region for information technology near Hyderabad. Besides, there are plans to employ around 1.5 million direct jobs and 5.3 million indirect jobs in the next five years in the IT industry. There are several plans by the state government to help the growth and development of industries in the Telengana state. Plans are being chalked out to provide incentives and attractive schemes for the investors who are interested in setting up industry or factory in Telangana. The growth is seen from various sectors and so new schemes are being put forward. The pharma sector can see an expansion in the near future and promote private and public partnership as well.
The Kompass benefits
Online world is now a must for businesses whether they are large and small. Keeping this in mind, Kompass has provided a platform to grow in the business and get coverage of areas that are far off and even remote.