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Telangana most successful startup in India: KTR
KTR
Telangana is the most successful startup in the history of independent India, said KT Rama Rao, Minister for IT, Industries and MA&UD, in his inaugural address at CII Telangana's Annual Session & Telangana Leadership Summit Conference in Hyderabad on Wednesday.
Hyderabad: Telangana is the most successful startup in the history of independent India, said KT Rama Rao, Minister for IT, Industries and MA&UD, in his inaugural address at CII Telangana's Annual Session & Telangana Leadership Summit Conference in Hyderabad on Wednesday.
"Annual per capita income of Telangana has witnessed 125 per cent growth from Rs 1.24 lakh by the time of bifurcation in 2014 to Rs 2.78 lakh now. During the same period, the State has registered 130 per cent growth in GSDP from Rs 5 lakh crore to Rs 11.54 lakh crore. According to RBI's statistics report, Telangana is the fourth largest GDP contributor in the country with only 2.5 per cent of the population. The State is being governed with 3 'i' mantra – Innovation, Infrastructure and Inclusiveness.
Invention and innovation are not only important for the industry but also for any department to support the system to function well. Government of Telangana could register tremendous growth adopting innovation strategies and is also fast emerging as granary of India.
Despite bifurcation issues, demonetisation impact and two years of the pandemic, Telangana has achieved average annual growth rate of 13 per cent over the last five years. If this continues, the State economy would certainly reach the magical figure of $500 billion by 2030, he said.
Deepak Bagla, MD & CEO of Invest India said: "The proactive Telangana government has attracted the global investors. The start-up growth story of the State has become a case study for many top business schools. It has one of the most effective single window systems in the country."
