Industry hails Telangana's achievements in 6 years

Hyderabad: Industry leaders on Monday hailed the achievements of Telangana as the newly-created State is gearing up for celebrating its sixth formation day on Tuesday.

GV Prasad, co-chairman and MD, Dr Reddy's, said that pharmaceutical industry is nurtured well by the Telangana government "Pharmaceutical industry is an important part of the State of Telangana.

The industry is nurtured well by the State government and the ecosystem. The Industry is doing very well and Telangana is the centre of innovation globally for APIs and generics in pharmaceuticals," he said at 6th formation day celebrations organised by Federation of Telangana Chambers of Commerce and Industry (FTCCI).

V Rajanna, senior vice president, TCS & past Chairman, CII, said: "The Telangana State has registered stunning performance in the IT sector.

The State has delivered Rs 1.2 lakh crore in IT exports with an annual growth rate of 18 per cent and contributing 12 per cent of nation's IT exports. The IT Industry has led rapid economic growth in the state contributing 1/3 of Telangana State exports".

The industry employs largest number of people which is in excess of 5.8 lakh comprising of 1.8 lakh women work force. It is providing indirect employment to more than 20 lakh people in the areas of catering, housekeeping, logistics, security and others.

The State government's initiative to expand the IT sector into Tier 2 cities like Warangal is an excellent move creating job opportunities in various regions, he added.

Karunendra S Jasti, president, FTCCI, said: "Despite being India's youngest State, Telangana strides in Industry development and launching friendly initiatives is phenomenal.

There is significant growth in the registration of new industrial units in Telangana. The Innovative TS-iPASS initiative has given approvals to more than 11,570 industries".

And about 80 per cent of the companies have started functioning generating more than six lakh jobs, he added.