Telangana will be best destination for global investments: CM Revanth Reddy
CM Revanth Reddy unveils the 'Telangana Rising' vision to reach a $3 trillion economy by 2047 through CURE, PURE, and RARE regional developments.
Telangana Chief Minister A Revanth Reddy has declared a bold ambition to transform the youngest state in India into the premier destination for global investments. Speaking at a global summit organized by the SAMAKHYA Chamber of Commerce in Hyderabad, the Chief Minister outlined a massive economic roadmap aimed at catapulting the state's wealth to unprecedented heights.
The Road to a $3 Trillion Economy
The Chief Minister unveiled the 'Telangana Rising: 2047 Vision Document', a strategic blueprint designed to drive massive economic growth. According to the plan, the state aims to achieve a one-trillion-dollar economy by 2034, with the ultimate goal of reaching a three-trillion-dollar economy by 2047.
To bridge the gap between current growth and these ambitious targets, the government intends to significantly increase Telangana's contribution to India's GDP. Currently, the state contributes approximately 5 per cent to the national GDP, but the administration is targeting a jump to 10 per cent.
The CURE, PURE, and RARE Strategy
Central to this vision is a unique regional development model that divides the state into three specialized zones to ensure balanced and intensive growth:
- CURE: Located within the Hyderabad Outer Ring Road (ORR), this zone will serve as the primary hub for IT, service sectors, cutting-edge technology, and innovation.
- PURE: Situated between the Outer Ring Road and the Regional Ring Road, this area will focus on manufacturing industries, industrial parks, and the logistics sector.
- RARE (Rural Agriculture Region Economy): This zone will prioritize agriculture, food processing, agro-based industries, and the creation of rural employment.
From Charminar to HITEC City
Reflecting on the evolution of the state's capital, CM Revanth Reddy noted how Hyderabad has transitioned through different eras of entrepreneurship. He mentioned that while the historic Charminar served as a landmark for entrepreneurs 400 years ago, the modern era has seen the rise of HITEC City as a global investment destination.
"Our resolve is to transform Telangana into the best destination for global investments," the Chief Minister stated, assuring investors that the government would provide necessary support and protection through investor-friendly policies.
Empowering Local Entrepreneurs and Women
The Chief Minister emphasized that the new industrial policy is not just for global giants but also for local players. He urged local entrepreneurs to move beyond merely providing services to corporate companies and instead aim to become global investors themselves.
Highlighting the government's commitment to social and economic inclusivity, he pointed to several women empowerment initiatives:
- Provision of bank linkage loans worth Rs 61,000 crore to women.
- Empowering women to become owners of RTC buses, petrol bunks, and solar plants.
He encouraged the Chamber of Commerce to actively foster the next generation of youth and women entrepreneurs to further strengthen the nation's economic fabric.
Politics vs. Development
Aligning his vision with the national goal of 'Viksit Bharat' (Developed India) by 2047, the Chief Minister stressed the importance of state-center cooperation. He made a clear distinction between governance and political rivalry, stating, "Our main focus is on development, and politics should be confined to the elections only."