Revanth to industry: ‘Come, be part of state’s growth story’ | Hyderabad News
Hyderabad: Chief minister A Revanth Reddy on Wednesday assured investors that his govt would protect and strengthen the investment-friendly ecosystem built by successive administrations over the past three decades.Addressing the Global Business Meet of the Samakhya Chamber of Commerce at Hitex, he said the state would maintain continuity in industrial policies, encourage fresh investments and create an enabling environment for businesses to grow.Seeking to allay concerns over policy uncertainty, Revanth said Telangana remained open to new ideas and investments and was committed to creating a conducive environment for industrial development.“Now Telangana is rising. Come and join in the rise,” he said, inviting businesses to partner with the state as it strives to emerge as a global economic and industrial powerhouse.The chief minister also urged young professionals to look beyond employment in multinational corporations and aspire to become entrepreneurs and job creators. Emphasising the need to foster an entrepreneurial mindset, he said, “Today, we are serving corporate companies. We should also become owners of companies and create businesses of our own.”Referring to global corporate leaders with roots in Hyderabad, including Microsoft CEO Satya Nadella and World Bank president Ajay Banga, Revanth said Indian talent had demonstrated its capabilities at the highest levels of global business. However, he stressed that Telangana needed more home-grown entrepreneurs capable of building globally competitive enterprises.Citing Skyroot Aerospace as an example of innovation-driven entrepreneurship, he urged the Samakhya Chamber of Commerce to encourage young people to pursue innovative business ideas. He also called for greater support for women-led enterprises, saying they could make a significant contribution to the state’s economy.Highlighting the role of women in economic growth, the chief minister said countries with higher female workforce participation generally recorded stronger economic outcomes. He also outlined various welfare and development initiatives launched by the state govt to promote women’s empowerment and participation in economic activity.Projecting Telangana as a premier investment destination, Revanth highlighted the govt’s Telangana Rising: 2047 Vision Document and outlined its long-term economic ambitions.“Our goal is to transform the Telangana state into a $1 trillion economy by 2034 and a $3 trillion economy by 2047. Our aim is to increase the Telangana contribution to India’s GDP to 10% from the present 5%. To achieve this goal, we envisaged plans to develop the state by dividing it into three zones: CURE, PURE, and RARE,” he said.The vision document, he indicated, would guide the state’s development strategy as Telangana seeks to expand its economic contribution and strengthen its position as a major investment destination.Drawing comparisons with leading global cities, the chief minister said Hyderabad should aspire to compete internationally rather than measure itself against other Indian cities.“We have no competition with Chennai, Bengaluru, Mumbai or even Amaravati. We want to compete with New York, Tokyo and Singapore,” Revanth said.
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