Pharmaceutical product exports from Telangana contributed to 32% of the Stateâs total merchandise exports, according to Telangana Socio Economic Outlook 2024. The image is used for representative purpose only.
| Photo Credit: SIVAKUMAR PV
Pharmaceutical product exports from Telangana at â¹36,893 crore in 2023-24 contributed to 32% of the Stateâs total merchandise exports that totalled â¹1,16,182 crore during the fiscal.
Pharma products were exported to over 100 countries
The sectorâs share underscores its pivotal role in Telanganaâs export basket. Setting the backdrop for the export performance was the conducive environment created by the State government through a combination of strategic initiatives, policies and infrastructure development. Pharma products were exported to over 100 countries, according to the Telangana Socio Economic Outlook 2024 presented on Thursday.
Telangana is a hub for Life Sciences industry â producing one-third of Indiaâs pharmaceutical products and accounting for one-fifth of the countryâs pharma exports. The State is also a leading vaccine producer. Pharmaceutical product exports last fiscal were followed by organic chemicals; aircraft, spacecraft and parts; electrical machinery and equipment; and nuclear reactors, boilers and mechanical appliances exports.
U.S. emerges as the largest export destination
In terms of export destinations, the U.S. emerges as the largest market receiving 28.16% of the Stateâs total exports, followed by the UAE at 6.90% and China at 5.20%.
Export data from various districts of Telangana in 2023-24 showed that Ranga Reddy was the leading contributor, accounting for 29% of the Stateâs total exports with an export value of â¹34,249 crore. Medchal Malkajgiri followed by accounting 22% of the exports with â¹25,444 crore, while Sangareddy and Hyderabad districts accounted for 19% (â¹21,939 crore) and 17% (â¹19,435 crore) respectively. This underscored the significant export activities centred around urban and industrial hubs like Ranga Reddy and their pivotal role in Telanganaâs export economy.
In its section on industries, the Socio Economic Outlook report states under the Telangana-Industrial Project Approval and Self-Certification System (TG-iPASS) that 2,677 units with an investment of â¹28,126 crore and employment potential of 84,929 jobs were approved during 2023-24.
Of these, 1,348 units are operational entailing an investment of â¹5,664.75 crore and creating 32,502 jobs. TG-iPASS, introduced about 10 years ago as TS-iPASS, allows entrepreneurs to obtain all necessary clearances at a single point within specified time limits based on self-certification. The TG-iPASS has been âhighly praised nationwide, and the government of India recognised it as one of the best practices under the Ease of Doing Business initiative.
