Incremental innovation will spur GSDP, says KTR.

According to KT Rama Rao, Telangana's IT and Industries Minister, incremental innovation will lead to Telangana's economy growing by another 4%, which would translate into the GSDP of Telangana reaching Rs.30 lakh crore in about four to five years.

According to the Minister, the GSDP has now reached Rs.11.55 lakh crore, as he spoke at the 7th-anniversary celebrations of startup incubator T-Hub. GSDP was about Rs 5.06 lakh crore in 2014 and had grown by 11% since then. The GSDP would reach Rs 30 lakh crore in four to five years if the state's economy grows by another 4%, he said, and incremental innovation was the key.

T-Hub has successfully created a platform for the startup community that is being replicated by many States. Goa has already signed a memorandum of understanding to set up a similar facility there, and the work is in progress.

Several other states have expressed interest in creating a facility like T-Hub, KTR said, noting that T-Hub focuses on mentorship, motivation, workforce, mindset, money, market access, partnerships, and policy advisory. With a total built-up area of 5,82,689 square feet, the facility can support over 2,000 startups under one roof, making it the largest innovation campus in the world. It has seen an investment of about Rs 400 crore.