Telangana's trillion dollar dream: A roadmap to 2047

Time of India

2 days ago

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Hyderabad: The aspiration for Telangana to evolve into a $3 trillion economy by 2047, fuelled by a steady 10% annual growth rate, reflects both strategic intent and bold ambition.
According to economists and policy experts, this milestone is within reach—provided the state adopts forward-looking reforms, enhances sectoral productivity, and provides sustainability and inclusivity at the heart of its growth model.
To realise this vision, the experts said Telangana must adopt a multi-pronged approach. Ensuring fiscal discipline, fostering sector-specific development, expanding robust manufacturing ecosystems, and embracing innovation across agriculture, industry, and services are key, they said.
However, they also cautioned that setting targets alone is not enough, but the state must remain vigilant against repeating past mistakes and be guided by clear, actionable objectives rooted in long-term planning.
Currently, Telangana contributes about 4% to India's GDP. Achieving a $3 trillion economy by 2047 would elevate its contribution to an estimated 10–12%. Within the state's current economic structure, agriculture accounts for approximately 17.3%, industry and manufacturing contribute 12%, and the services sector dominates with 66% of the Gross State Domestic Product (GSDP).
Strategic direction
Professor Krishna Reddy Chittedi, assistant professor at the School of Economics, University of Hyderabad, underscored the need for a paradigm shift in govt policy. "Rationalisation of schemes, curbing unnecessary expenditure, and closing policy loopholes are imperative. Growth should not be overly concentrated in Hyderabad, even though it remains the primary economic engine," he emphasised.
Boppana Nagarjuna, professor of international and industrial economics at the UoH, prefers Telangana to follow a transitional economic model similar to that of Vietnam. "We must decentralise manufacturing to towns and villages, empowering small businesses and tapping into the state's vast human resource potential. Kia Motors is a case in point—its global success was enabled by decentralised production. Telangana must also foster FDI partnerships with balanced ownership between the state and private sector," he said.
S Mahendra Dev, chairman of Economic Advisory Council to Prime Minister (EAC-PM), stresses the importance of sustainability. "Telangana's per capita income exceeds the national average, yet India's global economic standing highlights the need for inclusive and sustainable growth. Development policies must extend benefits to all regions and communities while prioritising environmental protection," he observed.
Navika Harshe, an economist and former Young Professional in the erstwhile Planning Commission, draws lessons from global models. "Telangana must not only sustain its current 10% growth rate but also explore transformative growth strategies. Germany's shift from an agrarian economy to an industrial powerhouse, and Singapore's consistent 10% growth over decades, offer valuable roadmaps for long-term success," she said.
In the agricultural sector, Professor Aldas Janaiah, VC of Professor Jayashankar Telangana State Agricultural University, outlines critical interventions. "To contribute meaningfully to the economic target, agriculture must grow at around 11% annually until 2047. This requires extending minimum support price to all major crops, improving storage and marketing infrastructure, and addressing farmer reluctance to continue in agriculture," he stressed.
Asserting that digitalisation and mechanisation are key, he said, "Our university has launched a digital agriculture centre to promote Internet of Things and modern tools that will support farmers and gradually facilitate labour transition without sacrificing growth."