Telangana’s lifesciences sector accounted for a third or 32% of the over 1.2 lakh crore merchandise exports from the state at 36,893 crore in fiscal 2023-24 with pharmaceutical products emerging as the largest merchandise exports commodity during last fiscal, the Telangana Socio Economic Outlook 2024 revealed.
Organic chemicals were the second largest merchandise exports commodity at 20% or 23,257 crore followed by aircraft, spacecraft and parts at 14% with 15,907 crore attesting to the growing clout of the state as a global aerospace and defence hub.
The other commodities to make it to the top five were electrical machinery and equipment at 6% with 7,375 crore and nuclear reactors, boilers and mechanical appliances at 4% with 4,740 crore.
In terms of the top export destinations, US topped the charts with 28.1% of the total merchandise exported from the state being shipped to its shores. This is not surprising that US is the largest market for India’s pharma exports and Telangana houses the highest number of USFDA approved pharma manufacturing sites. US was followed by UAE with 6.9%, Saudi Arabia with 4%, Kuwait with 3.7%, UK 3.1% and Germany a little over 2% of the total merchandise exported from Telangana.
In terms of districts, exports data reveals that Ranga Reddy contributed the highest to merchandise exports at 29% or 34,249 crore to merchandise exports, followed by Medchal-Malkajgiri at 22% with 25,444 crore and Sangareddy and Hyderabad districts accounting for 19% and 17% with 21,939 crore and 19,435 crore, respectively.
In 2022-23, Telangana had exported goods and services worth over 3.3 lakh crore globally with services sector accounting for 72.4% and merchandise exports contributing 27.5%, as per the SEO.
TG-iPASS
Of the 2,677 units approved under the Telangana Industrial Project Approval and Self-Certification System (TG-iPASS) with a proposed investment of 28,126 crore in FY24, only about half of them or 1,348 units have become operational with a total investment of nearly 5,665 crore, as per the Socio Economic Outlook 2024. These units were projected to generate employment for 84,929 people but created only 32,502 jobs.
