Hyderabad: In the financial year 2022-23, investment in Telangana has increased its growth of almost three times higher which is the highest in the country.
Telangana has once again proved to be the preferred investment destination in the country with investments. In the State registering a stunning growth of almost three times in the last financial year.
According to Telangana today, the Telangana state received investments of Rs.18,893.28 crore in the financial year 2021-22 and Rs.49,579.18 crore in the financial year 2022-23. The number of companies start up in the last financial year has increased to 4,602, while 4,093 units were start up in 2021-22. While the number of set up were increased 600, the quantum of investments was higher, resulting in a major jump of over Rs.30,000 cr.
In April 2022, Minister KTR inaugurated Google’s largest campus in Hyderabad. At the same time, Hyderabad-based Biliti Electric announced plans to set up the world’s largest electric three-wheeler factory here.
Elest, a subsidiary of gold retailer Rajesh Exports, signed an agreement with the Telangana government in June. To set up Generation 6 AMOLED display FABs with an investment of Rs.24,000 crore. This was the first Display Fab facility in the country.
Microsoft also announced its plans to expand its data centre investment in Hyderabad. With three more data centres with an investment of Rs.16,000 crore, taking its count to six such centres.
ALSO READ: Andhra Pradesh Hosts Investment Drive in Mumbai to Attract Businesses and Investors to GIS 2023
