Telangana Chief Minister A. Revanth Reddy on Wednesday said the state government would promote Telangana as a leading destination for global investments. Speaking at a global summit organised by the SAMAKHYA Chamber of Commerce, the Chief Minister outlined the government’s economic ambitions under the Telangana Rising 2047 Vision Document.
“Our resolve is to transform Telangana into the best destination for global investments. Our aim is to increase the Telangana’s contribution to India’s GDP to 10 per cent from the present five per cent,” Revanth Reddy said while participating in the global summit organised by SAMAKHYA Chamber of Commerce here.
Telangana Targets a $3 Trillion Economy by 2047
The Chief Minister highlighted the ‘Telangana Rising: 2047 Vision Document’ and the main objectives of the state government to roll out CURE, PURE and RARE regions.
“Our goal is to transform the Telangana State into a one-trillion-dollar economy by 2034 and a three-trillion-dollar economy by 2047. To achieve this goal, we envisaged plans to develop the state by dividing it into three zones: CURE, PURE, and RARE,” he said
CURE, PURE and RARE to Drive Telangana’s Economic Growth
The Chief Minister explained Core Urban Region Economy (CURE) area within the Hyderabad Outer Ring Road (ORR) is being developed as the hub of IT, service sectors, as well as cutting-edge technology and innovation.
“The Peri-Urban Region Economy (PURE) between the ORR and the Regional Ring Road (RRR) will promote manufacturing industries, industrial parks, and the logistics sector. The RARE—the Rural Agriculture Region Economy – will focus on agriculture, food processing, agro-based industries, and rural employment.”
Telangana Rising 2047 Aligns With India’s Development Vision
Saying that India will complete 100 years of independence by 2047, the Chief Minister mentioned Prime Minister Modi is working towards the goal of a ‘Viksit Bharat’ (Developed India) by 2047.
He emphasised that cooperation from the states is important to achieve the goals set by the Centre.
“Our main focus is on development and politics should be confined during the elections only,” the Chief Minister remarked.
CM Revanth Reddy highlighted how the city of Hyderabad transformed into a world-class city.
He said 400 years ago, the famous Charminar became a landmark for entrepreneurs from India and abroad.
“After the Charminar, HITEC City emerged as the destination for the world of investments.”
Revanth Reddy Calls for global investments and Local Investments
Appealing to the investors to join hands with the state government to achieve the goals of Telangana Rising, the Chief Minister assured that the state government will provide necessary support and protection to the investments by pursuing friendly policies.
CM Revanth Reddy stressed that the local entrepreneurs should also become partners in the new industrial policy.
“Until now, our investors have primarily focused on providing services to corporate companies. People from our region should make investments and grow globally,” he said.
He added that role of the Chambers is important in understanding the business practices and embracing new methods in the modern times.
Listing the women empowerment schemes launched by the people’s government (referring to Telangana government), the Chief Minister suggested the Chamber of Commerce to encourage youth and women entrepreneurs to strengthen the country economically further.
Telangana Focuses on Women Entrepreneurs and Employment
“We have provided bank linkage loans worth Rs 61,000 crore to women and also empowered women to become owners of Regional Transport Corporation buses, petrol bunks, and solar plants,” he added.
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