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Telangana – Redefining the growth paradigm

Telangana is standing on the brim of change, growth and magnificent progress

Published: Feb 21, 2024 05:42:12 PM IST
Updated: Feb 21, 2024 05:54:29 PM IST

Telangana – Redefining the growth paradigm

Amidst its serene landscape and captivating beauty lies Telangana, a state pulsating with vitality and promise. Fuelled by its burgeoning industries, rich culture, historical significance, and visionary leadership, Telangana is charting a course towards a future brimming with potential.

The socio-economic landscape of Telangana is undergoing a remarkable transformation, with the state emerging as a powerhouse in the life sciences sector in Asia. Boasting over 1000 pharmaceutical and health-tech companies, Telangana's industry evaluation has soared to over 80 billion USD, cementing its position as a global leader in this field.

But Telangana's success story doesn't end there. With a thriving IT sector, a rapidly expanding industrial base, and the presence of world-class educational institutions, the state has become a melting pot where tradition converges with innovation and technology intertwines with talent. This progressive mindset was showcased once again as Telangana proudly represented itself at the prestigious World Economic Forum in Davos, Switzerland, in January 2024, leaving an indelible mark on the global stage. The Chief Minister of Telangana, Shri A. Revanth Reddy attended the world Economic Forum personally and expressed that Telangana is the best place for investments. In an interview with Shereen Bhan, Managing Editor at CNBC-TV18, he said, “Hyderabad is the place for investments and Telangana state has 50 years of experience along with educational institutes, research institutes and infrastructure ecosystems. It has world connectivity. I am just here to market my strengths and attract investors to invest in Telangana”

Speaking on behalf of the government, Shri D. Sridhar Babu, the Industries and IT Minister of Telangana, also expressed optimism about the state's future prospects, citing the positive response received at Davos 2024. He reiterated Telangana's status as a prime investment destination for businesses seeking growth opportunities. “Many global player’s want an entry in India, and we felt proud that they chose Hyderabad as their destination”, he said.

In a bid to further propel industrial development and attract investments across diverse sectors, the Telangana government is diligently crafting a conducive business ecosystem. This includes the implementation of various policies and schemes such as the new industrial policy, the MSME policy, the GIG workers policy, and the industrial housing scheme, aimed at fostering employment generation and economic growth.

Recent months have witnessed Telangana's proactive efforts yielding significant results, with the state securing investment deals worth over 36,000 crore rupees at Davos. Notable investors, including the Adani Group, who have expressed their commitment to investing in Telangana's promising future, with plans for substantial investments over the coming years.

Moreover, prominent industry players like TTL, Tata Group, and Qcentrio have also announced ambitious expansion plans in Telangana, further solidifying the state's position as a preferred destination for business expansion and innovation.

To ensure inclusive growth and equitable distribution of opportunities, Telangana is set to host the Bio Asia Summit in Hyderabad from 26th-28th February 2024, underscoring its commitment to fostering economic development across all districts. The state's relentless focus on creating a conducive business environment has earned accolades, with Hyderabad emerging as the country's hotspot for data center infrastructure, supported by a robust ecosystem comprising IT, ITeS, pharmaceutical, and cloud solution companies.

Telangana's business-friendly policies, coupled with proactive measures like free bus rides for women, have not only propelled economic growth but also contributed to social welfare initiatives. Initiatives such as free bus rides for women have not only empowered women and enhanced mobility, but also resulted in a notable increase in RTC revenue, reflecting the effectiveness of such interventions.

In essence, Telangana's journey towards progress is a testament to its resilience, innovation, and unity, factors that continue to propel businesses to new heights. As the state embraces its promising future, it extends an open invitation to businesses with grand aspirations to partake in its journey of limitless possibilities and shared prosperity.

Telangana is not just a place; it is a beacon of prosperity and progress, beckoning all those with big dreams to join hands in shaping a harmonious and prosperous future.

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