Telangana Aims for $3 Trillion Economy by 2047, Unveils Ambitious Growth Blueprint
Image Source: Internet
The Telangana government is set to unveil its long-term growth strategy, 'Telangana Rising Vision Document 2047', which aims to transform the state into a $3 trillion economy by 2047. The ambitious plan, to be unveiled by Chief Minister A Revanth Reddy on December 8 and 9, targets a 10% contribution to India's projected GDP and positions Telangana as the country's most dynamic and knowledge-driven economy. The document outlines an integrated strategy built on enhanced productivity, human capital development, and increased investment flows. To achieve this, the government proposes substantial investments in education, skilling, and healthcare to create a globally competitive workforce. The growth path is anchored in three mutually reinforcing pillars: human capital development, productivity and innovation, and investment and savings. Key initiatives include: * Strengthening foundational learning and promoting high-end research * Expanding Telangana's science, technology, and innovation ecosystem * Lifting total factor productivity through programmes such as the Telangana Scientific Return Program and EduCities The government also aims to raise domestic savings and investment through fiscal discipline, financial inclusion, and efficient project execution. Policymakers expect a gradual structural shift in Telangana's economy, with the services sector increasing its share from 65% to 70% by 2047. The vision document projects a significant contribution from the services sector, accounting for nearly $1.9 trillion of the state's GSDP by 2047. Industry growth will continue to play a vital role through manufacturing, clean mobility, and semiconductor clusters, while agriculture will focus on agri-food processing, exports, and functional foods. The strategic area-based economic planning model is structured around three development tiers: urban core, peri-urban zones, and rural Telangana. This approach aims to ensure balanced regional development and economic resilience. The Telangana Rising Vision Document 2047 is a comprehensive blueprint for the state's economic growth and development, outlining a clear path towards becoming a high-productivity, innovation-led economy by 2047.
