In 2023-24, pharmaceutical product exports from Telangana reached ₹36,893 crore, contributing 32% of the State’s total merchandise exports valued at ₹1,16,182 crore.
More than 100 countries received Pharma products
This shows how important the sector is to Telangana’s export basket. The backdrop for this export performance was set by the state government which took a host of strategic initiatives and policies towards infrastructure development thereby creating an enabling environment. According to the Telangana Socio Economic Outlook 2024 released on Thursday, Pharma products were exported to over 100 countries.
Telangana has become a hub for Life Sciences industry- accounting for one fifth of India’s pharma exports and producing one third of India’s pharmaceutical products. It is also one among top vaccine producing states in India. Last fiscal’s Pharmaceutical Product Exports were followed by those of organic chemicals; aircraft, spacecraft and parts; electrical machinery and equipment; nuclear reactors, boilers and mechanical appliances.
The U.S.A emerges as the largest exporter to whom about 28.16% of all goods are sent while UAE stood at second position with 6.90 % of total export value followed by China at (5.20%).
Ranga Reddy emerged as the highest contributor with an export value worth INR 34249 crores that accounted for nearly 29% of overall state’s exports during FY23-24 while Medchal Malkajgiri came next with INR25444 crores accounting for around22% followed by Sangareddy (INR21939 crores representing19%)and Hyderabad (INR19435 crores equivalent to17%). This reveals that Ranga Reddy acts as an urban industrial hub where majority export activities take place thus playing much significance in Telangana’s external economy.
According to Socio Economic Outlook report industries section, under Telangana Industrial Project Approval and Self-Certification System (TG-iPASS), 2677 units with ₹28,126 crore investments and employment potential of 84,929 jobs were approved during 2023-24.
Out of these operating are 1,348 units invested around INR5665 crores and generating 32,502 jobs. TG-iPASS introduced as TS-iPASS about ten years ago allows the entrepreneurs to obtain within prescribed limits all the required clearances in single window based on self-certification. The TG-iPASS has been “highly appreciated across India and recognized by the government of India as one of the best practices under Ease of Doing Business program.
