The Telangana government is embarking on an ambitious journey to transform the state into a 3 trillion USD economy over the next 22 years, with a strategic focus on achieving comprehensive and sustainable growth by 2047, the centenary of India’s independence. The state cabinet has approved the formulation of the 'Telangana Rising 2047 Vision Document,' which will be developed in partnership with the Indian School of Business (ISB) in Hyderabad. To facilitate this initiative, the SPEED (Smart, Proactive, Efficient, and Effective Delivery) department has proposed the establishment of an advisory council, a recommendation that received cabinet approval.
This council is tasked with crafting a detailed action plan for the ‘Telangana Rising 2047’ initiative, with a submission deadline set for December 9. The project is expected to cost Rs 2.5 crore.
Key Highlights of the Vision Document
1. Multi-Phase Roadmaps: Development plans will be structured over 22 years, categorized into short-term (2025-2030), medium-term (2030-2035), and long-term (2035-2047) milestones.
2. Regional Strategic Planning: The approach will consist of three development model stages: urban core, peri-urban (around and beyond the urban), and rural Telangana.
3. Enhancing Competitiveness: The focus will be on elevating competitiveness in sectors such as start-ups, MSMEs, tourism, culture, media, IT, AI, data centres, and exports.
4. Investment Hub Development: Aiming to position Telangana as a global investment destination, the plan includes promoting advanced manufacturing, research and development, Global Capability Centres (GCCs), space technology, industrial corridors, electric vehicle infrastructure, and logistics.
Aspects of the 3 Trillion Dollar Vision
Hyderabad is already recognized as a leading IT hub, hosting T-Hub, India’s largest startup incubator. Plans are underway to further develop technology parks, alongside advancements in artificial intelligence and the semiconductor sector. Dubbed the "Vaccine Capital of the World," Hyderabad is home to major players like Bharat Biotech and Biological E. The vision may involve the establishment of biotech clusters and increased investments in research and development.
Telangana is advocating for the growth of the electric vehicle manufacturing sector with significant players, including Hyundai and Ola Electric, and is also focusing on developing defense corridors. The state aims to modernize its agricultural practices through the adoption of AI technology, drip irrigation systems, and the establishment of food processing zones.
As a global technology centre, the city anticipates further enhancements, including the expansion of metro networks, the creation of smart cities, and the development of industrial corridors. The introduction of new expressways, regional air connectivity, and enhanced railway networks is expected to stimulate trade and connectivity.
Telangana is committed to investing in renewable energy sources such as solar and wind power to promote sustainable industrial growth. Collaborations with institutions like the Indian School of Business (ISB) are planned to focus on training and up-skilling the youth to meet the demands of future industries.
Empowering Citizens
The plan seeks to empower one crore women, helping to create millionaires and supporting women entrepreneurs through tailored programs. Initiatives will provide modern technological training to youth, enhancing job opportunities through technology, education, sports, scholarships, and financial aid.
The agriculture sector, which supports around 50% of the state's workforce, will be fortified by diversifying crops, enhancing agricultural technology, ensuring support prices, and improving processing capabilities to double farmers’ incomes.
Efforts will be directed toward ensuring equitable and affordable healthcare for all through digital health solutions, improved geriatric care, and upskilling the health workforce. The vision promotes net-zero development through green energy initiatives, effective financing for sustainable business practices, and efficient urban planning.
Role of the Advisory Council
The newly established Advisory Council will comprise experts in government policy, economics, industry, education, and governance. This council will focus on financial planning and sustainability, providing recommendations for social empowerment and governance innovations. They will explore successful practices from various regions to achieve Telangana’s economic goals, conducting an in-depth analysis of the state's social and economic landscape.
Field studies are scheduled to take place from July 14 to August 11, followed by consultations during specific windows: August 4-10, October 6-19, and November 10-16. The final report will be consolidated by the end of November, with a comprehensive action report due to the government by December 9.
Context within National Economic Goals
With India aiming to become a $ 30–35 trillion economy by 2047, Telangana’s ambitious $ 3 trillion target could position it as a significant contributor to the national GDP, accounting for roughly 10 percent. If realized, Telangana could potentially rival the economies of France or the United Kingdom, both of which are currently valued at around $ 3 trillion US dollars.
Challenges on the Horizon
Securing international investment will be vital for the success of this ambitious plan. Equitable regional development is a major challenge ahead this goal. Ensuring that growth extends beyond Hyderabad to other regions such as Warangal and Karimnagar is crucial for balanced development. Political and economic consistency will play a key role in maintaining long-term development efforts.
