Telangana targets $3 trillion economy by 2047: Dy CM Bhatti
New Delhi, Sept 19 (TNT): Telangana Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka on Saturday said the state was aiming to transform itself into a $3 trillion economy by 2047 and increase its share in the national economy from around 5 per cent to 10 per cent.
Addressing a conference on “Mobilising Financial Resources for India’s Journey Towards Viksit Bharat” in New Delhi, held under the leadership of Union Finance and Corporate Affairs Minister Nirmala Sitharaman, he said Telangana was ready to play a key role in achieving the Viksit Bharat-2047 goal.
Bhatti said the major challenge was to mobilise resources required for unprecedented development while maintaining fiscal stability, improving productivity and ensuring that the benefits of growth reached every region and section of society.
He stressed the need for the Centre and states to work together in the spirit of cooperative federalism, with effective mobilisation of public and private resources and strong institutions and policies based on mutual cooperation.
He said Telangana was participating in the discussion with a clear development plan, a strategy for mobilising financial resources and a long-term vision rather than merely seeking funds.
The Deputy Chief Minister said Telangana’s GSDP reached Rs 17.82 lakh crore in 2025-26, registering 10.7 per cent growth at current prices, while real GSDP growth at constant prices was estimated at 8.5 per cent.
The state’s per capita income had risen to Rs 4,18,931, compared to the national average of Rs 2,19,575, while the services sector grew 13.5 per cent and the secondary sector 9.4 per cent, he said.
At the current growth trajectory, Telangana’s economy was estimated to reach $1.21 trillion by 2047. However, the state government had set a target of $3 trillion, he said.
To achieve the target, Telangana needed to change the way infrastructure was financed and gradually reduce dependence on government borrowing, Bhatti said. The state was seeking to mobilise greater investments from private investors, institutional funds and sovereign funds, while using government resources strategically.
Government funding would be used to reduce investor risks, bridge viability gaps and build confidence among private investors, he said, adding that the state was strengthening mechanisms such as public-private partnerships, green bonds and blended finance.
CURE-PURE-RARE model
Bhatti said Telangana had developed the CURE-PURE-RARE model to promote balanced development across the state.
The CURE (Core Urban Region), centred around Greater Hyderabad, would focus on high-end services, artificial intelligence, global capability centres, fintech, life sciences and knowledge-based industries.
The PURE (Peri-Urban Region), along major transportation corridors, would serve as a hub for industrial and manufacturing activities, while the RARE (Rural Agricultural and Resource Economy) would focus on strengthening the rural economy through digital agriculture, food-processing clusters and cold-chain infrastructure.
The Regional Ring Road would be a key infrastructure project connecting the three regions, he said.
Bharat Future City
The Deputy Chief Minister said Bharat Future City, spread across more than 30,000 acres, was being developed as a model for future cities in India.
It was being envisioned as a net-zero, AI-enabled green megacity with universities, international research centres, clean technology parks and environmentally sustainable residential areas, he said.
Youth key to growth
Bhatti said human resources were the foundation of a $3 trillion economy and described Telangana’s youth as the state’s greatest strength.
To bridge the gap between higher education and industry requirements, the government had established the Young India Skill University in partnership with leading international organisations, he said.
He said inclusive development was a key objective of the government and stressed the need to ensure that economic growth benefited every family through social security, accessible healthcare, quality housing and support for women entrepreneurs and self-help groups.
Telangana’s $3 trillion target was also its contribution towards building a prosperous and self-reliant Viksit Bharat by 2047, Bhatti said, adding that coordinated financial systems of the Union and state governments, with focus on investment, sustainable financial resources and human capital, would be essential to achieving the goal.
TNT KS
