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Telangana is one of the fastest-growing states in India posing average annual growth rate of 13.90% over the last five years. Telangana's nominal gross state domestic product for the year 2023-24 stands at ₹15.2 lakh crore. Service sector is the largest contributor to the Telangana's economy with a share of about 65% in the year 2018-19. Growth in services has largely been fuelled by IT services with the State holding leading position in IT & ITeS in the country in terms of production and exports.
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