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Target Telangana to be One Trillion USD (INR 85 Lakh Crore) Economy by 2047 says Mr Sai D Prasad, Chairman, CII Telangana


Hyderabad-April 26, 2024: CII Telangana State Office Bearers - Mr Sai D Prasad, Chairman, CII Telangana and Mr R S Reddy, Vice Chairman, CII Telangana has interacted with the media to discuss CII's initiatives both nationally and within Telangana for the fiscal year 2024-25.

 

Mr Sai D Prasad emphasized Telangana's potential to lead India's growth narrative by 2047, highlighting the importance of sustainable and inclusive development amidst global uncertainties and technological advancements. He stressed the significance of leveraging recent economic data to tailor Telangana's growth strategy, urging industries to capitalize on reforms and emerge as global leaders. Key focus areas include investment, job creation, environmental stewardship, and nurturing a skilled workforce. Building trust among stakeholders is paramount, with adaptability and collaboration being key drivers for securing Telangana's prosperous and sustainable future.

 

Telangana's economy has demonstrated consistent growth, with the latest data for the fiscal year 2023-24 revealing a GSDP of approximately Rs 14.49 lakh crore (USD 175 billion). This robust performance surpasses the national average, underlining Telangana's position as a frontrunner in economic development. The state aims for a USD One Trillion GSDP by 2047, reflecting its ambitious yet achievable growth trajectory.

 

CII Telangana is actively involved in crafting The Telangana Vision Document 2047, outlining a roadmap for the state's future across key pillars. This includes prioritizing human development through education, healthcare, and social welfare, fostering economic prosperity via agriculture, manufacturing, and innovation, promoting sustainable urbanization and rural development, and ensuring environmental conservation. Collaboration with global partners and effective governance mechanisms are essential for realizing this vision and creating a brighter, more equitable future for Telangana's citizens.

 

Working towards the target of One trillion USD economy for the State, CII Telangana is working on a strategic plan for the year 2024-25 and beyond focusing on Lives & Livelihoods, Policy & Advocacy and Membership Engagement. Focus on key sectors like Agriculture, MSMEs with gender balance and sustainable industralisation at the core of it.

 

Mr R S Reddy highlighted the Confederation of Indian Industry's (CII) mission to foster India's development by collaborating with industry, government, and civil society through advisory and consultative processes. Established in 1895, CII is a non-governmental, not-for-profit organization comprising over 9,000 members from both private and public sectors, including SMEs and MNCs, with an indirect membership of around 300,000 enterprises through national and regional sectoral industry bodies.

 

CII has established 10 Centers of Excellence across India, each focusing on different aspects of industrial development:

  1. CII Institute of Logistics (Chennai)

  2. CII Institute of Quality (Bangalore)

  3. CII - ITC Centre of Excellence for Sustainable Development (New Delhi)

  4. CII-Centre of Excellence for Competitiveness for SMEs (Chandigarh)

  5. CII - Naoroji Godrej Centre of Manufacturing Excellence (Mumbai)

  6. CII - Sohrabji Godrej Green Business Centre (Hyderabad)

  7. CII - Suresh Neotia Centre of Excellence for Leadership (Kolkata)

  8. CII - Triveni Water Institute (New Delhi)

  9. CII - FACE (New Delhi)

  10. CII Centre of Excellence for Innovation, Entrepreneurship, and Start-ups (Hyderabad)

 

CII also serves as a Third-Party Aggregator (TPA), facilitating apprenticeships with industry partners. It has released two annual reports, the India Skills Report and India Decoding Jobs, which analyze the employability of the talent pool and provide insights into the job and talent landscape in India, respectively. These reports have reached over 300,000 students and 150+ corporates, offering valuable insights from industry leaders across sectors.

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