Telangana Unveils Ambitious $1 Trillion Economy Target by 2034 at Global Summit

Telangana:

Chief Minister A Revanth Reddy inaugurated the two-day Telangana Rising Global Summit on Monday, outlining an ambitious economic transformation plan to elevate the state to a $3 trillion economy by 2047.

The summit attracted an impressive assembly of international and domestic leaders and was strategically held at the newly announced Bharat Future City, representing the Chief Minister's long-term vision for a comprehensive, world-class urban development.

The Chief Minister envisions a 30,000-acre "net-zero" urban center with specialized zones dedicated to AI, health, education, and manufacturing sectors.

By selecting this development site for a global event, the government has clearly signaled to investors that the Future City represents Telangana's next frontier for economic expansion, highlighting its advantageous location and planned connectivity to the airport, including a proposed 40 km Metro rail extension.

The summit welcomed approximately 2,000 delegates, including 154 international representatives from 44 countries, with a notable contingent of 46 from the United States.

Distinguished attendees included Nobel Peace Laureate Kailash Satyarthi, Nobel Economist Abhijit Banerjee, and executives from prestigious organizations such as the World Bank, WHO, and major global corporations like Amazon and IKEA.

In his keynote address, Chief Minister Reddy emphasized that the summit's objective was to "deliberate upon our future" and establish a roadmap for the next 22 years.

This roadmap, titled 'Telangana Rising 2047,' establishes two significant financial targets: achieving a $1 trillion economy by 2034 and reaching a $3 trillion economy by 2047. At this point, the Chief Minister aims for Telangana to contribute 10 percent of India's GDP, doubling its current 5 percent contribution.

The Chief Minister noted that the Vision document was developed through comprehensive consultation, incorporating input from citizens, government officials, the Indian School of Business (ISB), and the NITI Aayog.

As part of this innovative strategy, the state has been divided into three dedicated economic zones, making Telangana the pioneer among Indian states to implement such a structure for targeted sectoral growth. The first zone, CURE (Core Urban Region Economy), concentrates on high-value services. The second, PURE (Peri Urban Region Economy), is designated for organized manufacturing. The third, RARE (Rural Agriculture Region Economy), focuses on agriculture and agro-processing.

Revanth Reddy identified China's highly successful Guangdong province as the inspiration behind this zonal strategy, declaring, "Now, we are getting ready to compete with them."

The Chief Minister formally extended an invitation to the assembled global stakeholders to become partners in this ambitious journey.