Revanth Aims for $3-trillion Telangana Economy by 2047
Telangana Raising is regarded as the main instrument to achieve robust growth: Revanth Reddy
Hyderabad: Chief Minister A. Revanth Reddy said Telangana was set to become a $1-trillion economy in 10 years and $3 trillion economy by the centenary of India's Independence in 2047. He said Telangana's contribution to India’s GDP would increase from existing five per cent to 10 per cent by 2047, contributing significantly to India’s goal of becoming a $30 trillion economy.
Revanth Reddy outlined his vision for the state’s future during the Telangana State Formation Day celebrations held at Parade Ground, Secunderabad, on Monday. Addressing the public meeting, Revanth Reddy highlighted the ‘Telangana Rising – 2047’ action plan, an initiative designed to transform the state into one of the world’s most developed economies.
"In the coming decades, Telangana will be at the forefront of India's rise as a global economic power. Our government is working with a clear focus to make Telangana not just the best in India, but one of the top economies globally," Revanth Reddy said.
He highlighted key initiatives under the 'Telangana Rising' action plan, which is already in motion. Notably, the state has made substantial strides in attracting global investments, with agreements worth over ₹3 lakh crore inked with international giants such as Google, Microsoft, Cognizant, and HCL. These investments, particularly in the IT and technology sectors, are expected to serve as a strong foundation for the state’s economic growth.
"Hyderabad has emerged as a major global IT hub. With this momentum, we are confident that Telangana will be recognised as one of the best destinations for investment," Revanth Reddy stated.
In line with the economic ambitions, the Chief Minister said Hyderabad is undergoing a transformation to rival the best metro cities in the world.
Revanth Reddy said the Musi River rejuvenation project, aimed at restoring the river to international standards, and the development of a “Future City” spanning 30,000 acres with cutting-edge facilities such as AI City, Pharma City, Sports City and Life Sciences and Health City, will transform Hyderabad into a world-class global city.
The Chief Minister said that the construction of Regional Ring Road (RRR) at an investment of ₹18,000 crore, aimed at improving connectivity around Hyderabad, the second phase of the Hyderabad Metro Rail project, costing `24,000 crore, will help address the city's growing need for efficient public transportation.
“We are also expanding our aviation infrastructure with the revival of the Mamunuru airport and working on projects that will strengthen the regional and Metro Rail networks,” he added.
Revanth Reddy presented cash awards of `1 crore each to nine eminent personalities for their contributions to the Telangana movement.
Among them were renowned poets like Ande Sri and Suddala Ashok Teja, along with senior journalists and artists. Posthumous awards were presented to revolutionary figures like Gaddar and Guda Anjaiah, while the prestigious Kaloji Award was conferred to polyglot poet Nalimela Bhaskar for his literary contributions.
Revanth Reddy also awarded the gallantry medal to 19 police officers for their exemplary service, while 11 others got meritorious service medals. The event was marked by a ceremonial parade, with police contingents and other groups participating in the march past.