HYDERABAD: Hailing Telangana’s growing role in India’s success story, Union Commerce and Industry Minister Piyush Goyal on Thursday said it was time the state looked beyond its established strengths in pharmaceuticals and biotechnology and tapped opportunities in aerospace, defence and quantum computing. Goyal also urged Telangana to improve the ease of doing business.
Welcoming the praise, Chief Minister A Revanth Reddy credited the Centre’s support for Telangana, asserting that political differences had not come in the way of Hyderabad’s investment journey.
Addressing the curtain-raiser programme for the ‘Invest Telangana Global Summit’ organised by the state government in Delhi on Thursday, Goyal called for collective efforts to achieve the Viksit Bharat-2047 target.
Recalling the region’s trading legacy, he cited the Motupalli inscription issued by Kakatiya emperor Ganapati Deva around 700 years ago to regulate maritime trade, saying industrialists were now seeking similar measures.
We have DNA for reforms, entrepreneurship: CM
Pointing to Telangana’s contribution to the country’s exports, Goyal cited Tandur toor dal and Nizamabad turmeric as products reaching international markets. He also welcomed the state government’s ambition to build a $3 trillion economy, saying investments would generate jobs and drive growth.
Referring to Centre-state relations, Revanth said political differences had not hindered development. He cited infrastructure projects as evidence of cooperation between the BJP-led Union government and the Congress government in Telangana. “Many investors ask: What about Centre-State relations? Today, at my curtain-raiser event in Delhi, Union Minister Piyush Goyal was the chief guest. The Centre has decided to create seven high-speed train corridors in India; they have given three to Hyderabad. The Centre is supporting my state by building airports in Warangal and Adilabad,” Revanth said.
He also cited the Regional Ring Road and metro rail expansion as examples of the Centre’s support.
Inviting investors to the Invest Telangana Global Summit, scheduled at Bharat Future City in Hyderabad from December 7 to 9, Revanth said Hyderabad had consistently attracted global investors and produced talent of international calibre. He assured investors that their investments would be safe and backed by the state government. “Hyderabad has a spirit of global vision in its air and water. We have a DNA for reforms and entrepreneurship. It is my personal commitment that your investment is safe and will grow. I will be the custodian of your investment in my state,” he said.
Urging investors to raise their ambitions, Revanth asked them to double their planned investments, growth projections and profit expectations.
Revanth said the Telangana Rising 2047 vision was aligned with Viksit Bharat 2047. With India projected to become a $3 trillion economy, Telangana aimed to contribute 10% of the country’s GDP, becoming a $1 trillion economy by 2034 and a $3 trillion economy by 2047.
Saying the government’s role was to remove obstacles for businesses, he said Hyderabad’s competition was with leading global cities rather than other Indian metros.
“I believe what cannot be measured cannot be managed. We need less government rather than more government to enable growth. My job is to remove speed breakers in your path to achieve success. My competition for Hyderabad is not Delhi, Mumbai, Chennai or Bengaluru. It is with New York, London, Tokyo, Seoul and Dubai. Support me with best ideas. Share best policy inputs. Your inputs will become policy. Telangana is Rising. Join the rise. By Rising Together, we will make history,” he said.
Push for semiconductor mission inclusion
Meanwhile, IT and Industries Minister D Sridhar Babu urged the Centre to include Telangana in the India Semiconductor Mission (ISM) 2.0 to help develop an ecosystem for semiconductor fabrication and chip design.
Highlighting the state’s infrastructure, talent and governance, he said: “We have the greatest infrastructure that we have created in the past three decades; we have the best talent and skill force, and in terms of governance, we have been honoured by the Central government in ease of doing business and others”.
Sridhar said Telangana’s defence exports had increased by 103% from previous levels. The state was also working to raise its data centre capacity to 5 GW by 2030. He said the Telangana Rising vision aimed to increase the state’s contribution to India’s GDP to 10% by 2047, with infrastructure, talent and business-friendly policies driving industrial growth.