Telangana Targets $3 Trillion Economy with Strong Industry Partnership: Minister Vivek Venkatswamy
Hyderabad, March 7:
Telangana Labour, Employment and Mines Minister Dr. G. Vivek Venkatswamy said the state government is working with a clear vision to transform Telangana into a $3 trillion economy in the coming years. He stated that achieving this ambitious goal requires strong collaboration between the government and industry leaders.
The minister was speaking at the annual meeting of the Confederation of Indian Industry (CII) held in Hyderabad on Saturday. Telangana Governor Jishnu Dev Varma attended the programme as the chief guest.
Vivek Venkatswamy said the government is placing strong emphasis on skill development to prepare youth for emerging industrial opportunities. He noted that the Employment Department has established Advanced Technology Centres (ATCs) to train young people according to the needs of modern industries. Discussions have also been held with CII to identify the specific skills required for upcoming sectors.
The minister observed 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 capable of meeting future industrial demands. New training courses aligned with evolving industry requirements are also being introduced.
He emphasized that while the government is committed to improving 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, he said industries also have a responsibility to voluntarily comply with regulations and standards.
The minister urged industrial units to strictly follow safety guidelines and statutory norms prescribed by both the Government of India and the Government of Telangana. Referring to the recently introduced labour codes, he said industries must ensure proper compliance to safeguard the interests of workers. He added that the cost of following safety and statutory norms is minimal compared to the potential losses caused by negligence or non-compliance.
Recalling the contributions of former Union Minister Kaka Venkat Swamy, the minister said that he had once proposed the introduction of pension schemes for private sector employees despite resistance from industries at the time. Today, such social security measures have proven highly beneficial for workers.
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 Telangana.
