New Delhi, Oct 29 (PTI) Telangana Chief Minister A Revanth Reddy on Thursday invited domestic and global investors to partner in the state's development, saying he aimed to make Hyderabad compete with cities like New York, London, Tokyo, Seoul and Dubai.
Addressing the curtain-raiser of the 'Invest Telangana Global Summit-2026' here, Reddy said the state government had set a target of making Telangana a USD 1 trillion economy by 2034 and a USD 3 trillion economy by 2047 under its 'Telangana Rising 2047' vision, which is aligned with the Centre's 'Viksit Bharat 2047' goal.
India aims to become a USD 30 trillion economy by 2047, and efforts were on to ensure Telangana contributed 10 per cent of it, he said.
"My competition for Hyderabad is not Delhi, Mumbai, Chennai or Bengaluru. It is with New York, London, Tokyo, Seoul and Dubai," the chief minister said.
Assuring investors of security for their capital, Reddy said, "I will act as the guardian of your investments."
He asked investors to finalise the amount they intend to invest in the state and then double it, to double their growth expectations and projected profits.
The state government was ready to take policy decisions and extend all required cooperation to investors, he said, urging the industry to share ideas that could be introduced as new policies.
“My role is to remove the obstacles to achieve the goals in the investments,” he said, adding that government intervention needed to be reduced and opportunities expanded.
Reddy said he had come to listen to investors, who had a deeper understanding of the business landscape than the government. "We intend to learn from you, understand your views, and put them into action," he said.
Referring to investors' concerns over Centre-state relations, he said Union Minister Piyush Goyal had clarified the dynamics between the Prime Minister and the chief minister on development.
The chief minister welcomed the Centre's support for projects such as the Regional Ring Road, expansion of the Metro rail network and the establishment of a Navy radar centre.
He also noted that the Centre was setting up seven high-speed rail corridors across the country, three of which – Hyderabad-Chennai, Hyderabad-Bengaluru and Hyderabad-Pune – would connect the Telangana capital. The Centre's support for two new airports at Warangal and Adilabad was also significant, he said.
Inviting participants to the summit, to be held on December 7, 8 and 9, at 'Bharat Future City' in Hyderabad, Reddy said the state was keen to hear the perspectives of investors.
Highlighting Hyderabad's appeal as an investment destination, the chief minister said the city had a unique record in attracting foreign investment and nurturing world-class talent. Traders from across the world had come to Charminar for pearls, spices and silver filigree work, he said, and the Nizams had built the city's museum, mint, airport, railway network and educational institutions.
He also said the Hyderabad Public School had produced leaders who made the world proud, citing Microsoft CEO Satya Nadella, World Bank President Ajay Banga, Adobe CEO Shantanu Narayen and Prem Watsa among its alumni.
Reddy also recalled the contributions of former prime ministers Rajiv Gandhi and P V Narasimha Rao. He said Gandhi brought revolutionary changes in computers and telecommunications and trained as a pilot in Hyderabad, which is why the city's international airport was named after him. Rao, who hailed from Telangana, took charge when the country faced a severe economic crisis and implemented liberalisation, privatisation and globalisation reforms, he said.
(This story has not been edited by THE WEEK and is auto-generated from PTI)