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'Tel clocks highest 79% growth in attracting domestic and

Press Trust of India  |  Hyderabad 

has achieved the highest growth rate of 79 per cent in terms of attracting from both domestic and foreign sources across different sectors between FY12-FY17, according to industry body Assocham.

The youngest state of accounted for 3.3 per cent share in total worth over Rs 177 lakh crore attracted by top industrial states across as of FY17, said the study report titled 'Telangana: Analysis of economic growth and investment performance', released by Assocham.

"had attracted total outstanding worth about Rs 5.9 lakh crore as of FY17 which rose from Rs 3.3 lakh crore worth of investments attracted by the region as of FY12. In terms of year-on-year growth in investments, the state has registered considerable improvement from 0.6 per cent in FY13 and 5.6 per cent in FY14 to about 24 per cent in FY15, over 22 per cent in FY16 and about 12 per cent in FY17," it added.

Over one-fourth of the total investments attracted by are in irrigation sector (28 per cent share) as of FY17 and it is followed by non-financial services (25 per cent), electricity (18.5 per cent) and manufacturing (11 per cent) amid sectors that have major share in this regard, it said.

As far as the implementation rate is concerned, 370 projects with investments worth about Rs four lakh crore of the total live investments attracted by Telangana are under different stages of implementation.

Electricity sector has the major share of 85 per cent in all projects under implementation in Telangana followed by non-financial services (76 per cent), mining (72.5 per cent), irrigation (67.5 per cent) and manufacturing (23 per cent), it added.

The state government should also lay more focus on further developing the industrial sector which is also a major avenue for employment generation in Telangana, besides designing policies to lure private investors in sectors like bio-technology, solar energy and tourism among others, as per the report.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, September 14 2017. 18:42 IST