- Telangana aims to benchmark its economy against Asian powerhouses like China and Japan, Revanth Reddy has said
- The "Telangana Rising 2047" vision has targetted a $3 trillion economy by 2047 with global investments
- The plan has divided the state into three economic zones: CURE, PURE, and RARE for focused growth
Telangana Chief Minister A Revanth Reddy made a powerful declaration today, announcing that the state is setting its economic benchmark not against its neighbouring states, but against Asian economic powerhouses.
"Our main competitors and role models are China, Japan, South Korea, and Singapore. We will attract huge direct investments from abroad in the future," he said, asserting that Andhra Pradesh and Tamil Nadu are not the standards for Telangana's future development.
Reddy made the remarks at a press conference at the Secretariat to unveil the "Telangana Rising 2047" vision document, a blueprint dedicated to transforming the state into a $3 trillion economy by 2047.
The document, which focuses on "Vision and Strategy," aims to increase Telangana's share in the country's development to an ambitious 10 per cent.
The plan will be formally launched at the Global Summit on December 8 and 9 at Future City, inviting leaders from across the globe.
The comprehensive document, prepared with the assistance of organisations like NITI Aayog and ISB, involves people as partners and is structured around the division of the state into three mutually reinforcing economic regions.
The first is Core Urban Region Economy or CURE. This area will be aggressively developed as a service sector hub, with plans to shift pollution-emitting industries outside the core. Key projects like the Musi Rejuvenation Project and Metro Rail expansion are vital to developing Greater Hyderabad as a pollution-free metropolis.
The second is Peri Urban Region Economy or PURE. Located between the Outer Ring Road and the proposed 360 km Regional Ring Road, PURE is set to host major economic drivers. Development here includes the establishment of Bharat Future City, a new Greenfield Highway, a Bullet Train network, and improved connectivity to Machilipatnam Port.
The third is Rural Agriculture Regional Economy or RARE. This outer region focuses on agriculture, positioning farmers as active partners in the state's economic growth.
The Chief Minister noted the land's high suitability for seed production, with RARE promoting a knowledge hub by bringing in international educational institutions and ensuring the availability of quality education and technology.
To support the massive growth targets, the vision includes a significant push for connectivity.
The Chief Minister stressed the need for more airports in the state, confirming plans for new airports in Warangal, Adilabad, Kothagudem and Ramagundam. The robust network of highways, ports, and airports is expected to play a crucial role in attracting huge foreign investments.
Reddy said the government has already set a target of making Telangana a $1 trillion economy by 2034, reiterating that the plans within the "Telangana Rising 2047" vision are structured to bolster the economy and achieve the ultimate $3 trillion goal by the centenary of India's independence.
A dedicated war room, led by Deputy Chief Minister Mallu Bhatti Vikramarka, has been set up at Praja Bhavan to manage the arrangements for the upcoming Global Summit.
The state government has decided to invite national and international representatives to the summit.
Reddy will personally meet with key national figures, including Prime Minister Narendra Modi, Leader of the Opposition in Parliament Rahul Gandhi, and AICC President Mallikarjun Kharge, to extend individual invitations.
The government is inviting a broad spectrum of dignitaries, including Union Ministers, Chief Ministers of all states, eminent industrialists, prominent economists, sportspersons, media personalities, and diplomats. Invitations have been extended to 4,500 representatives from various sectors.
