Committed to sustainable economic growth of Telangana: Industries Minister

The Telangana government is committed to sustainable economic growth and seeks to achieve it with a focus on good governance, innovation and inclusive development, IT and Industries Minister D. Sridhar Babu told leaders of the Confederation of Indian Industry Southern Region here on Friday.

The Minister, who was addressing the CII-SR council meeting, said the State’s development roadmap was designed to make Telangana a key contributor in India’s journey towards becoming a $15 trillion economy. An emphasis on technological development, the proposed Regional Ring Road project as well as the Net zero Bharat Future City will be key components of the State’s progress. The Net Zero Bharat Future City has been proposed on 20,000 acres and will primarily play host to eco-friendly industries and will drive future growth.

The National Investment Manufacturing Zone is poised to emerge as one of the major manufacturing clusters in the State, he said, citing how multiple projects will play a crucial part in achieving the State government’s ambitious goal of transforming Telangana into a trillion dollar economy by 2035 and a $3 trillion economy by 2047. He appreciated CII’s role in bridging the gap between aspiration and achievement and to a suggestion of setting up a consultative committee where industry issues could be taken up on a fast-track basis, the industry body said in a release.

Separately, in a release, the Minister’s office said Mr. Sridhar Babu underscored the importance of regional collaboration and the southern States working together to build a competitive, innovation-driven manufacturing base. “Let us collaborate to create a ‘Make-in-South, Scale-for-the-World’ economy that competes with the best in the world,” he said, inviting CII members and companies to consider Telangana as a reliable launchpad for their global investments. He said the State government will provide a stable and facilitative policy environment. It was exploring a dedicated industry–government coordination mechanism to strengthen institutional linkages, similar to such successful models in other States.

The Minister also sought to underscore the growth opportunities linked to the strategic location of the State. Going forward, the area between the existing Outer Ring Road (ORR) and the Regional Ring Road (RRR) is set to emerge as a key industrial hub, designed to capture the global ‘China + 1’ opportunity.

A handbook on Telangana and a report on Telangana — Embracing Energy Transition were released by the Minister. CII leaders who participated in the programme included its southern region chairman Thomas John Muthoot, deputy chairman Ravichandran Purushothaman and CII Telangana chairman Sivaprasad Reddy Rachamallu participated.