Hyderabad: Chief Secretary K. Ramakrishna Rao on Tuesday highlighted Telangana economic progress to a delegation from the U.S.-India Strategic Partnership Forum at the Secretariat.
The delegation included representatives from insurance, financial services, agriculture and technology sectors. During the meeting, he outlined growth trends across key sectors in the state. He said Telangana, formed in 2014, recorded strong progress over the past decade.
According to the Chief Secretary, the state posted significant gains in Gross State Domestic Product and per capita income. Both public spending and private investments supported this expansion. As a result, Telangana emerged as one of the faster-growing state economies.
Urban growth shaping Telangana economic progress
Rapid urbanisation played a key role in Telangana economic progress, he said. Nearly one-third of the population lives in and around Hyderabad. Consequently, the state ranks among the fastest urbanising regions in the country.
He described Hyderabad as the country’s pharma capital and a major information technology hub. Its legacy in public sector undertakings helped startups grow, especially in the defence sector. In addition, the city attracted investments in Global Capability Centres.
The city also hosts reputed educational institutions and advanced healthcare facilities. Moreover, a strong fintech ecosystem supports innovation and business growth.
The Chief Secretary said Telangana economic progress rests on favourable climate, skilled manpower and cultural heritage. He added that the state’s cuisine and infrastructure also attract investors.
He stated that Telangana remains among the fastest-growing states in India. The government has set a target of becoming a $3 trillion economy by 2047. He assured the delegation of continued support for investments.
Director of Industries Nikhil Chakravarthy attended the meeting. Representatives including Malachy Brian Nugent, R Deepak Joshi and Divdrisht Singh also participated in the interaction.
