Telangana ranked seventh in GSDP growth among all Indian states, primarily due to the robust performance of the tertiary sector, which contributed Rs 9.23 lakh crore to the total Rs 15.01 lakh crore GSDP. The primary and secondary sectors, including agriculture and manufacturing, grew steadily due to increased investments. Telangana secured the top position in the five-year average annual GSDP growth rate with a 12.06% growth rate between 2013 and 2024. The state outperformed advanced economies like Gujarat, Maharashtra, Tamil Nadu, Karnataka, and Uttar Pradesh during this period

Hyderabad: Telangana has surpassed many developed states and the national average in economic growth during 2024. It has registered a significant increase in its Gross State Domestic Product (GSDP) and per capita income in the 2023-24 financial year. Telangana's contribution to India's GDP rose to 5.1% from 4.9% in 2022-23.

According to the Telangana State Statistical Abstract 2024, released by Deputy Chief Minister Mallu Bhatti Vikramarka on Monday, Telangana's GSDP reached Rs 15.01 lakh crore in 2023-24, up from Rs 13.11 lakh crore in 2022-23.

The report highlighted that Telangana's average annual GSDP growth rate over the last decade (2013-2024) stood at 12.9%, significantly higher than India's GDP growth rate of 10.3% in the same period.

The state ranked seventh in GSDP growth among all Indian states, primarily due to the robust performance of the tertiary sector, which contributed Rs 9.23 lakh crore to the total Rs 15.01 lakh crore GSDP. The primary and secondary sectors, including agriculture and manufacturing, also grew steadily due to increased investments.

In the five-year average annual GSDP growth rate, Telangana secured the top position with a 12.06% growth rate between 2013 and 2024. The state outperformed advanced economies like Gujarat, Maharashtra, Tamil Nadu, Karnataka, and Uttar Pradesh in this period.

Per capita income (PCI), a key indicator of economic well-being, also showed exceptional growth in Telangana during 2023-24. The state's PCI reached Rs 3,56,564, the highest among National Statistical Commission (NSC) states. In contrast, India's overall PCI in the same year was Rs 1,84,205.

Telangana ranked third in per capita income in 2024, improving from its fifth-place ranking in 2023. Only Sikkim and Delhi recorded higher PCI figures. This data was compiled by the Telangana Development Planning Society. Telangana's economic progress reflects its strategic investments and policy initiatives, positioning it among the fastest-growing states in India.