NewKerala.com

Telangana Targets $3 Trillion Economy with Industry Skill Push

Telangana's government has set an ambitious vision to transform the state into a $3 trillion economy. Minister G Vivek Venkataswamy emphasized strong industry partnership and skill development through Advanced Technology Centres to prepare the youth. The government is focusing on both the ease and speed of doing business to facilitate rapid investment implementation. Industries were also urged to comply with safety norms and new labour codes to ensure sustainable growth and worker welfare.

Key Points: Telangana Aims for $3 Trillion Economy, Focuses on Skills

  • $3 trillion economy vision
  • Industry collaboration for skills
  • Advanced Technology Centres for training
  • Focus on ease and speed of business
3 min read

Telangana aiming for $3 trillion economy with strong industry partnership: Labour Minister Vivek Venkatswamy

Telangana's government, led by CM Revanth Reddy, partners with CII to build a skilled workforce for a $3 trillion economy goal.

"The government is making efforts to ensure the availability of a skilled workforce that can meet the future demands of industry. - Minister G Vivek Venkataswamy"

Hyderabad, March 7

Telangana Labour, Employment and Mines Minister G Vivek Venkataswamy said that the Telangana government, under the leadership of Chief Minister A Revanth Reddy, is working with a clear vision to transform Telangana into a $3 trillion economy in the coming years.

Vivek noted that to achieve this ambitious goal, the government is maintaining continuous engagement with industry leaders and stakeholders.

Speaking at an annual meet of the Confederation of Indian Industry (CII) in Hyderabad on Saturday, the minister said the government is focusing strongly on skill development to prepare the youth for emerging industrial opportunities.

"The Employment Department has established Advanced Technology Centres (ATCs) to train young people in line with the requirements of modern industries," he stated.

Discussions have also been held with CII to identify the specific skills required for upcoming industries, he added.

The minister noted that Telangana is witnessing a steady inflow of investments and several new industries are expected to be established in the state.

"In view of this, the government is making efforts to ensure the availability of a skilled workforce that can meet the future demands of industry. New training courses aligned with evolving industrial needs are also being introduced," Vivek said.

He emphasised that while the government is committed to improving the ease of doing business, equal importance is being given to ensuring the speed of doing business so that investments can be implemented quickly.

"At the same time, industries also have a crucial role to play by voluntarily complying with regulations and standards," Vivek said.

The minister urged industrial units to strictly adhere to safety guidelines and statutory norms prescribed by the Government of India and the Government of Telangana.

Referring to the recently introduced labour codes, he said that industries must ensure proper compliance to safeguard the interests of workers.

Vivek added that the cost of following safety and statutory norms is minimal when compared to the losses that may arise due to negligence or non-compliance.

Recalling the contributions of former Union Minister Kaka Venkat Swamy, the minister noted that he had once proposed the introduction of pension schemes for private sector employees despite facing resistance from industries at that time.

"Today, such social security measures have proved to be highly beneficial for workers," Vivek said.

The minister called upon industries to actively cooperate with the government and comply with statutory regulations to ensure sustainable industrial growth and worker welfare in the state.

- ANI

Share this article:

Reader Comments

P
Priyanka N
$3 trillion is a very ambitious target. While the intent is good, I hope the focus on 'speed of doing business' doesn't mean bypassing environmental clearances or labour welfare. The mention of pension schemes for private employees is a welcome reminder.
R
Rohit P
As someone from the manufacturing sector in Telangana, the push for skilled workforce is crucial. But the government also needs to ensure reliable power and better last-mile connectivity to industrial areas. Partnerships with CII are a step in the right direction.
S
Sarah B
Interesting to see the emphasis on compliance and safety. Often, in the race for growth, worker safety gets compromised. If the cost of compliance is minimal as the minister says, industries should have no excuse. Hope this is enforced on the ground.
K
Karthik V
Vision accha hai, but execution is key. We have seen big promises before. The Advanced Technology Centres sound promising, but will they be accessible to youth in rural districts of Telangana, or just in Hyderabad? Development must be inclusive.
M
Michael C
A $3 trillion economy for a single state is a staggering goal. It shows immense confidence. The focus on continuous industry dialogue is smart policy. Telangana could become a model for other states if they pull this off. The world will be watching.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50