Hyderabad: Telangana Industries Minister Duddilla Sridhar Babu on Thursday said the state was on track to transform into a trillion-dollar economy by 2035, calling it not just a vision but a resolute mission. Addressing the inauguration of the Malabar Gems and Jewellery Manufacturing Unit, Sridhar Babu highlighted strong growth in the state’s manufacturing sector.
He said Telangana’s secondary sector grew by 9.6% in 2023–24, exceeding the national average of 8.3%. Gross Value Added by manufacturing rose from ₹1.34 lakh crore in 2022–23 to ₹1.46 lakh crore in 2023–24, a growth of 9%. The manufacturing sector contributed 19.5% of Telangana’s GSDP, above the national average of 17.7%.
Manufacturing exports crossed ₹1.2 lakh crore last year, which Sridhar Babu described as proof of the state’s global competitiveness. He credited Chief Minister Revanth Reddy’s leadership for building an industrial ecosystem that underpins such achievements.
He pointed to upcoming initiatives including an electronics cluster near Hyderabad, a jewellery manufacturing zone at Maheshwaram, and an EV and defence hub at Zaheerabad. Under TG-iPASS, over 4,200 units were approved with 98% cleared in under 15 days. Plans are underway to integrate artificial intelligence into TG-iPASS for even faster and more transparent processes.
Sridhar Babu said a New Industrial Policy 2025 was being drafted with industry participation, to encourage green incentives, sector-specific industrial zones, incentives for women entrepreneurs, and AI-based governance.
He invited both national and international investors to partner with Telangana, promising a people-first government without red tape. The Minister expressed confidence that the new Malabar unit would stand as a model for the state’s ambitions in manufacturing and invited Malabar and other players to consider furniture manufacturing as a new area of investment, with full support assured.
He further called on the Malabar Group and other industrial leaders to collaborate on skill development so that local youth could lead the next wave of growth.