Centre will support Telangana's vision of becoming USD 3 trillion economy by 2047: Piyush Goyal
New Delhi, October 29
Union Commerce and Industry Minister Piyush Goyal assured the Central Government's support for Telangana's vision of becoming a USD 3 trillion economy by 2047. He stressed that collective efforts by all states and sectors would be essential to achieving the national goal of Viksit Bharat 2047.
Addressing the curtain-raiser event for the Invest Telangana Global Summit 2026 in New Delhi, Goyal welcomed Telangana Chief Minister Revanth Reddy's ambitious economic vision and called for collective efforts to transform India into a developed nation by 2047.
The summit is scheduled to be held from December 7 to 9, 2026, at Bharat Future City in Hyderabad.
Highlighting Telangana's economic potential, Goyal said Hyderabad was at the forefront of Global Capability Centres (GCCs), artificial intelligence (AI) and life sciences.
He noted that Telangana had a strong presence in pharmaceuticals and biotechnology and called for greater focus on emerging sectors such as aerospace, defence and quantum computing.
Goyal also cited GI-tagged Tandur red gram and Nizamabad turmeric as examples of the state's distinctive products, noting that Tandur red gram had been exported to Australia.
Stressing the need to further improve ease of doing business, the Union Minister called for a favourable environment for trade and investment.
He said every investment attracted and every job created in Telangana would contribute to the state's development and help advance the national goal of Viksit Bharat 2047.
Referring to Telangana's historical legacy in trade and commerce, Goyal said Kakatiya ruler Ganapati Deva had issued the Motupalli inscription relating to maritime trade more than 700 years ago, highlighting the importance of safeguarding traders' investments and ensuring policy stability.
He observed that industrialists continued to seek similar assurances from governments to invest and expand their businesses.
Describing the summit as another festival amid the celebrations of Dussehra, Karwa Chauth and Diwali, Goyal emphasised the importance of collective participation in the country's development journey.
Speaking about the national economy, Goyal said India was among the world's five largest economies and was growing faster than anticipated despite several challenges, including the crisis in Central Asia.
He added that India's exports had also expanded beyond conventional estimates and expectations.
The Union Minister reiterated that the Central Government would partner with Telangana in its growth journey and support its efforts to achieve its economic ambitions.
— ANI
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