TS fourth largest contributor to Indian economy: KTR

HYDERABAD: Though Telangana is the 11th largest state, as per the Reserve Bank of India, it is the fourth largest contributor to the Indian economy, according to IT minister K.T. Rama Rao. The minister assured the construction industry that in the next 10 to 15 years, there would be plenty of opportunities in Hyderabad as many international companies were setting up their units here. Apart from creating employment, these investments would spur more demand for housing, he said.

Speaking at the 11th property show organised by the Confederation of Real Estate Developers' Associations of India (CREDAI), the minister said leveraging the economy was something every nation should do and that was what Chief Minister K. Chandrashekar Rao had done for Telangana.

“Hyderabad still is the most affordable real estate market amongst the seven metros in the country with an average of Rs 4,400 per square feet. It also tops office leasing by the IT/ITeS sector,” Rama Rao said.

He said farmers were now getting electricity round the clock. The loans taken by the state government were invested in sources of productive expenditure. The Chief Minister had pumped money to create good infrastructure, Rama Rao said. “If you take a loan to invest in the productive sector, the economy will grow, like how we now have companies like Wipro who have employees working in three shifts, 24x7. There must be an all-around focus for balanced growth. Moreover, 33 per cent of the Covid vaccine across the world is from Hyderabad,” he said.