Citing the unprecedented growth of Guangdong province in China in just two decades, Telangana Chief Minister A Revanth Reddy on Monday said his government wants to replicate the same model for the youngest state in the country and contribute ten per cent to India’s GDP by 2047. The two-day-long Telangana Rising Global Summit kicked off at the chief minister’s dream project, the Future City, where he unveiled his ambitious plan for the state to become an economic powerhouse on the centenary year of India’s Independence.
The Chief Minister said, “We want to become a trillion-dollar economy by 2034 and a USD 3 trillion economy by 2047”, despite being the youngest state in the country after being carved out of united Andhra Pradesh just ten years ago. He pointed out that the state, despite having only about 2.9 per cent of India’s population, contributes nearly 5 per cent of the national GDP. Setting a stiff target, he said, by 2047, he wants the state to contribute 10 per cent of India’s GDP. “Now, after ten years, we are trying not only to become India’s most developed state but also to compete to be one of the best in the world.”
He cited the progress made by Guangdong province in China, which in just two decades became the nation’s top economic powerhouse. Telangana, he said, is ready to adopt global best practices and benchmarks, competing with the world’s most successful growth regions. The state drew inspiration from China, Japan, Germany, South Korea and Singapore and was preparing to compete with them, said the Chief Minister while inviting these nations to collaborate, invest and support Telangana’s rise.
Outlining Telangana’s vision, the Chief Minister said, “Our strategy is to make Telangana India’s first and only state to be divided into three clear zones for services, manufacturing and agriculture. We call it the Core Urban Region Economy (CURE), the Peri Urban Region Economy (PURE) and the Rural Agriculture Region Economy (RARE).
He said the vision document unveiled at the summit was prepared with inputs from citizens, experts from the central government and Indian School of Business and finally, the Niti Aayog. While the Chief Minister started off, referring to Jawaharlal Nehru’s “Tryst with Destiny” speech and touching upon Dr Manmohan Singh and Sonia Gandhi’s contributions, Union Minister for Coal, G Kishan Reddy, the only union minister present, spoke about the Vikshit Bharat vision of Prime Minister Narendra Modi.
While Karan Adani of Adani Ports and SEZs said that in the past three years, they have invested Rs 10,000 crore and would set up a cutting-edge green AI Data Centre, Eric Swider, director of Trump Media and Technology Group, announced investments worth Rs 1 lakh crore in Future City over the next ten years