Centre Backs Telangana's Bold USD 3 Trillion Economy Goal by 2047
Union Minister Piyush Goyal pledges Central support for Telangana's ambitious vision to become a USD 3 trillion economy by 2047.
In a major boost to the state's economic aspirations, Union Commerce and Industry Minister Piyush Goyal has assured the Central Government's full support for Telangana's vision of evolving into a Telangana 3 trillion economy by the year 2047. Speaking at a curtain-raiser event in New Delhi for the upcoming Invest Telangana Global Summit 2026, the Minister emphasized that the state's success is pivotal to the broader national objective of achieving a 'Viksit Bharat' (Developed India) by 2047.
A Vision for the Future: Invest Telangana Global Summit 2026
The announcement comes as the state prepares for the Invest Telangana Global Summit 2026, which is slated to take place from December 7 to 9, 2026, at the Bharat Future City in Hyderabad. Minister Goyal lauded Chief Minister Revanth Reddy for his ambitious economic roadmap, noting that the collective efforts of all states and sectors are essential to transform India into a developed nation.
Hyderabad: The Hub of Innovation and Life Sciences
Highlighting the state's current strengths, the Union Minister pointed out that Hyderabad has already established itself as a global leader in several critical fields. He specifically mentioned:
- Global Capability Centres (GCCs): Hyderabad's role as a primary destination for international business hubs.
- Cutting-edge Tech: The state's growing prowess in Artificial Intelligence (AI).
- Healthcare and Biotech: A formidable presence in pharmaceuticals and life sciences.
While celebrating these achievements, Goyal urged the state to pivot more aggressively toward emerging frontiers, including quantum computing, defence, and aerospace, to maintain its competitive edge on the global stage.
From Ancient Trade to Modern Exports
Drawing a fascinating parallel between the past and present, Minister Goyal referenced the historical legacy of the Kakatiya dynasty. He cited the Motupalli inscription issued by ruler Ganapati Deva over 700 years ago, which focused on maritime trade and the protection of traders' investments. He noted that the fundamental need for policy stability and the safeguarding of investments remains a priority for modern industrialists today.
The Minister also highlighted the global reach of Telangana's agricultural products, mentioning the GI-tagged Nizamabad turmeric and Tandur red gram, the latter of which has already found its way into Australian markets.
Driving Growth Through 'Ease of Doing Business'
To reach the USD 3 trillion milestone, Goyal stressed the absolute necessity of improving the ease of doing business. He called for the creation of a favorable environment for trade and investment, asserting that every single job created and every investment secured in Telangana serves as a building block for the national goal of a developed India.
India's Economic Resilience
Touching upon the national economic landscape, the Union Minister stated that India currently stands among the world's five largest economies. He noted that despite global headwinds and crises in Central Asia, India's growth has outpaced expectations, with exports expanding beyond conventional estimates.
Closing his address, Minister Goyal reiterated that the Central Government would remain a steadfast partner in Telangana's growth journey, ensuring the state has the support it needs to realize its massive economic ambitions.