Is Telangana Leading India with a Three-Zone Economic Model?
Synopsis
Key Takeaways
- Telangana is the first state in India to adopt a three-zone economic model.
- The aim is to achieve a $1 trillion economy by 2034.
- Telangana contributes 5% of India's GDP despite having 2.9% of the population.
- Global collaboration is a key focus for Telangana's growth.
- The roadmap is based on extensive consultations with various stakeholders.
Hyderabad, Dec 8 (NationPress) Telangana is set to lead India as the first state to implement a three-zone model aimed at economic transformation, announced Chief Minister A. Revanth Reddy on Monday.
During the opening session of the Telangana Rising Global Summit at the Bharat Future City, he shared the state’s development aspirations, targeting a $1 trillion economy by 2034 and a $3 trillion economy by 2047.
He revealed that Telangana will introduce a pioneering three-zone model for economic advancement: CURE (Core Urban Region Economy) for services, PURE (Peri-Urban Region Economy) for manufacturing, and RARE (Rural and Agri Region Economy) for agriculture-led development.
The Chief Minister welcomed various leaders and representatives from business, public policy, academia, and diplomacy for this two-day summit.
Emphasizing Telangana’s robust economic fundamentals, he highlighted that the state, despite having just 2.9% of India’s population, contributes nearly 5% of the national GDP.
He reiterated his ambition for Telangana to account for 10% of India’s GDP by 2047.
Drawing inspiration from the Guangdong province in China, which transformed into an economic powerhouse in just over two decades, he stated that Telangana is poised to adopt global best practices and benchmark itself against successful global regions.
The Chief Minister mentioned that the state is looking to collaborate with nations like China, Japan, Germany, South Korea, and Singapore to raise its profile and drive investment.
He emphasized that the roadmap for Telangana’s future should be rooted in consultation and collective wisdom, reminiscent of the drafting of the Indian Constitution.
Reflecting on the long journey towards a separate Telangana state, he acknowledged that the dream was realized in 2014 under the leadership of Sonia Gandhi and former Prime Minister Dr. Manmohan Singh.
“Telangana emerged as India’s youngest state, and now the aim is to evolve into the most developed state in the country and one of the best globally. Following the constitutional model of India, the Telangana government has engaged extensively with stakeholders to chart a future vision for the state. Experts have been consulted to imagine Telangana in 2047, coinciding with India’s centenary of Independence, which inspired the Telangana Rising 2047 initiative,” he said.
He highlighted that citizen feedback was integral in understanding their needs and aspirations. The ambitious roadmap has been crafted with insights from administrative personnel, experts from the Central Government, the Indian School of Business, and NITI Aayog.
The Chief Minister expressed eagerness to absorb ideas, insights, and feedback from all attendees over the next two days.
Recognizing the enormity of the vision, he assured that with collective determination, nothing is unattainable.
“If it is challenging, let’s tackle it immediately. If it appears impossible, I’ll extend the deadline,” he stated.
“Yesterday was a dream and a plan. Today, with your partnership, I see stakeholders in this expedition. Together, we can realize our ambitions. The journey of Telangana Rising is unyielding. Join us in this ascent,” concluded the Chief Minister.