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WTC Shamshabad pegs $1-trn GSDP for TG by 2036
CM Revanth releases ‘Telangana’s Growth Story: The Road to $1-Trillion Economy’ report at AI Summit on Thursday
Hyderabad: The Telangana’s Gross State Domestic Product (GSDP), which presently stands at $176 billion, is set to grow to nearly $1 trillion by 2036, according to a report by the World Trade Centre Shamshabad.
Telangana Chief Minister Anumula Revanth Reddy on Thursday released the report titled ‘Telangana’s Growth Story: The Road to $1-Trillion Economy’at the inaugural sessionof the two-day Telangana AI Summit here on Thursday.D Sridhar Babu, Telangana IT and Industries Minister, Robin Van Puyenbroeck, Executive Director of New York-based World Trade Centers Association (WTCA); Y Varaprasad Reddy, Chairman, WTC Shamshabad and Genome Valley, and others took part in the releasing event. The 80-page report, which provides comprehensive details about Telangana and its economy, further said that the Telangana’s journey to $1-trillion economy would take the State’s contribution to India’s GDP from the current low of 4.9 per cent to a significant 9.3 per cent, implying a healthy 1.9x growth. This increase seems even more incredible given the fact that Telangana is home to only three per cent of the country’s 1.4 billion population, it added.
According to the report, Telangana’s competitive advantage lies in its capacity to cultivate skilled talent, foster startups and drive innovation, enhancing its position across key indicators such as the liveability index, pollution metrics and affordable real estate availability. “The State’s economic engine predominantly relies on the services sector, which maintains a significant share throughout its journey towards achieving a 1-trillion dollar economy. While the combined market size of information technology and global capability centres (GCCs) is projected to reach $460 billion, the agriculture sector alone is anticipated to contribute $703 billion by end of the decade 2040,” the report said.
