Telangana Govt sets ambitious $3 trillion economy goal, says minister

Telangana aims for a $3 trillion economy, says Minister G Vivek Venkataswamy. The government is focusing on skill development via Advanced Technology Centres and industry collaboration to prepare youth for emerging industrial opportunities.

Telangana Labour, Employment and Mines Minister G Vivek Venkataswamy said that the Telangana government, under the leadership of Chief Minister A Revanth Reddy, is working with a clear vision to transform Telangana into a $3 trillion economy in the coming years.

Vivek noted that to achieve this ambitious goal, the government is maintaining continuous engagement with industry leaders and stakeholders.

Focus on Skill Development and Workforce Readiness

Speaking at an annual meet of the Confederation of Indian Industry (CII) in Hyderabad on Saturday, the minister said the government is focusing strongly on skill development to prepare the youth for emerging industrial opportunities. "The Employment Department has established Advanced Technology Centres (ATCs) to train young people in line with the requirements of modern industries," he stated. Discussions have also been held with CII to identify the specific skills required for upcoming industries, he added.

The minister noted 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 that can meet the future demands of industry. New training courses aligned with evolving industrial needs are also being introduced," Vivek said.

Emphasis on Compliance and Worker Welfare

He emphasised that while the government is committed to improving the 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, industries also have a crucial role to play by voluntarily complying with regulations and standards," Vivek said.

The minister urged industrial units to strictly adhere to safety guidelines and statutory norms prescribed by the Government of India and the Government of Telangana.

Referring to the recently introduced labour codes, he said that industries must ensure proper compliance to safeguard the interests of workers. Vivek added that the cost of following safety and statutory norms is minimal when compared to the losses that may arise due to negligence or non-compliance.

Recalling the contributions of former Union Minister Kaka Venkat Swamy, the minister noted that he had once proposed the introduction of pension schemes for private sector employees despite facing resistance from industries at that time. "Today, such social security measures have proved to be highly beneficial for workers," Vivek said.

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 the state. (ANI)

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