Representative image for exports.
Credit: iStock Photo
Hyderabad: The US emerged as the top destination for merchandise exports from Telangana in the just concluded fiscal year of 2023–24.
According to Telangana's Socio Economic Outlook 2024, released recently, the USA emerged as the largest market, receiving 28.16 percent of the state’s total exports, distantly followed by the UAE at 6.90 per cent and China at 5.20 per cent.
In the fiscal year 2023–24, Telangana’s merchandise exports totaled Rs 1,16,182 crore, with pharmaceutical products alone contributing 32 per cent, equivalent to Rs 36,893 crore.
“Pharmaceutical sector’s substantial share underscores its pivotal role in the state’s export profile,” said a senior Telangana government official.
Pharmaceutical products are the leading product category, followed by organic chemicals with exports worth Rs 23,257 crore, which contribute 20 per cent of the exports; aircraft, spacecraft, and their parts with exports worth Rs 15,907 crore make 14 per cent of the exports; electrical machinery and equipment with exports worth Rs 7,375 crore contribute 6 per cent; nuclear reactors, boilers, and household appliances worth Rs 4,740 crore, contribute 4 per cent to overall exports from Telangana.
Telangana is considered to be a major hub for the life sciences and pharmaceutical industries, producing one-third of India’s pharmaceutical products and contributing to one-fifth of the country’s pharma exports.
Telangana, which played a vital role during the Covid-19 pandemic, with companies like Bharat Biotech and Biological E. Genome Valley, the largest R&D cluster in India, is also gaining traction as the 'vaccine capital of the world', housing over 200 biotech companies and four of India’s five leading vaccine manufacturers.
“The Biopharma Hub (B-Hub) is a cornerstone initiative within Genome Valley, where the state government collaborates with Cytiva, a leading life sciences company, to establish a bio-pharma scale-up facility. Additionally, the government has unveiled the second phase of Genome Valley with a Rs 2,000 crore investment. Plans also include establishing 10 pharma villages with an investment totaling Rs 1 lakh crore, which is expected to generate 5 lakh jobs and entrepreneurial opportunities. These initiatives are poised to make substantial contributions to the state’s GDP, employment landscape, and revenue,” said a senior official.
Rangareddy district powers Telangana exports
The export data from various districts of Telangana in 2023–24 revealed that Ranga Reddy district is the leading contributor, accounting for 29 per cent of the state’s total exports with an export value of Rs 34,249 crore.
Medchal Malkajgiri is next, contributing 22 per cent with Rs 25,444 crore exports, while Sangareddy and Hyderabad districts contribute 19 per cent with Rs 21,939 crore and 17 per cent with Rs 19,435 crore, respectively.
This distribution underscores the significant export activities centered around urban and industrial hubs like Ranga Reddy and Medchal Malkajgiri, highlighting their pivotal role in Telangana’s export economy.