The pharmaceutical sector in Telangana has been able to substantially increase its share in total investments received by the State and emerged as a major employer.
From under 10% in 2015-16, the share of investments in pharmaceuticals and chemicals went up to 46% in 2021-22, according to the Telangana Social Economic Outlook 2022.
Renewable energy was another sector that saw good traction, attracting 19% of the total investments received by the State in 2020-21 as against 10.4% in 2015-16.
The pharmaceutical sector was also a major contributor to new job creation in the current fiscal. According to the Socio Economic Outlook, between 2016-17 and 2020-21, the IT sector remained the dominant sector producing new employment, contributing more than 50% of all new employment generated by firms approved through TS-iPASS. However, in 2021-22, 42.9% of new employment came from the pharmaceutical sector.
The document attributed this to the success of the government in attracting new investment and employment through development of Medical Devices Park in Sultanpur and the Hyderabad Pharma City. The limelight shifted to the pharma sector in the wake of the pandemic.
The outlook said the government is focused on creating new industrial parks across Telangana, providing competitive infrastructure facilities and financial incentives to potential investors, attracting investments in high-value industries like research and development and life sciences.
