In June 2014, Telangana was formed as the 29th state of the India with Hyderabad as the capital of the state. The state was formed as a result of the split of erstwhile Andhra Pradesh state. The state is land locked by (new) Andhra Pradesh to the south and east, Maharashtra and Karnataka to the west, and Odisha and Chhattisgarh to the north. At current prices, Telangana’s net state domestic product (NSDP) was estimated at INR 7.89 trillion (USD 115.35 billion) in 2018-19. Telangana's Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 13.40 percent (in Rupee terms) to INR 8.67 trillion (USD 126.81 billion) between 2011-12 and 2018-19. The capital city of Hyderabad (also the capital for earlier larger Andhra Pradesh state) is a hub for information technology (IT) and pharmaceutical sectors. During 2017-18, export of IT and ITeS products of Telangana was INR 93,422 crore (USD 14.50 billion). Leading IT companies like Facebook, Google, IBM and Microsoft hold significant presence in Hyderabad. According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflows in Telangana from April 2000 to December 2018 totalled USD 17.874 billion. Total merchandise exports from the state stood at USD 6,566.71 million during 2017-18. The exports stood at USD 5.33 billion during 2018-19 (upto December 2018). Major items exported from Telangana are Drug Formulation, Biologicals, Residual Chemical and Allied Products and Bulk Drugs, Drugs Intermediates etc.