Deputy CM Bhatti: Telangana Vision 2047 can be achieved only when capital meets innovation

Hyderabad: Deputy Chief Minister Mallu Bhatti Vikramarka said that Telangana can achieve $3 trillion economy by 2047 only if investment is combined with innovation. He asked people to think about the state’s role in productivity and innovation, combined with the latest tech, as crucial steps towards achieving overall growth.

He said that to reach the goal set for the next 22 years, Telangana needs to grow at least 16 times compared to its current economic size.

“We have set the ambitious target. Writing numbers on paper is easy… but the real question is—how? Such massive growth cannot be achieved merely by working harder or by building more roads and constructing more buildings. To achieve this exponential growth, we must change the fundamental equation of our economy,” he said.

The deputy CM was speaking as the chief guest at the panel discussion on ‘Capital & Productivity for a Three-Trillion-Dollar Economy’ held on Tuesday as part of the Telangana Rising Global Summit.

“We have unveiled the ‘Telangana Rising 2047’ Vision Document. It is not just a document—it is a pledge to our future,” Bhatti Vikramarka said.

‘Capital + Innovation = Productivity’

Productivity is the only sustainable way to enhance the wages and dignity of ordinary citizens in Telangana, the Deputy CM emphasised. It can only be achieved by combining capital with innovation, he said.

He noted that governments in India have long considered themselves ‘regulators,’ focusing on permissions, licenses and files. “Improving the ‘Ease of Doing Business’ is no longer enough,” he said.

‘Ease of Innovating is next step’

In an era of Deep Tech, AI and Quantum Computing, Ease of Doing Business is only a baseline requirement, he added.

To become the Innovation Capital of Asia, the state must move from ‘Ease of Doing Business’ to ‘Ease of Innovating,’ and shift from clearing files to creating ecosystems.

He explained the Vision Document’s spatial strategy—CURE (Urban), PURE (Peri-Urban) and RARE (Rural).

“We have the plan and we have the talent, but innovation is expensive—and more importantly, innovation involves risk,” he said. Banks prefer safety, he said, while innovation often requires failure.

“From the internet to space travel, the world’s biggest breakthroughs happened because someone was willing to take a risk for years without expecting immediate profit,” he noted.

“That is why the key question before this panel today is: How do we unlock capital?” He said that Telangana is ready to evolve from being just a regulator to becoming a catalyst government—a government willing to share risks and secure rewards for the people.

The pertinent questions about innovation and productivity

“I am not here just to speak—I am here to listen,” the deputy CM said, before putting forward three key questions to the panel:

1. The productivity vs jobs paradox

There is fear that increased productivity and automation may lead to job losses. How do we address this?

2. The role of government in innovation

Should the state stay away, as critics often suggest, or should the government actively partner in innovation and share the risks?

3. Taking deep tech beyond Cyberabad

AI and Deep Tech are often viewed as software-centric. But Telangana’s vision focuses heavily on the RARE (Rural) zone, he said.

“How do we ensure deep tech also solves ‘boring problems’ like improving the productivity of weavers in Warangal or farmers in Nizamabad? How do we attract capital into these sectors?” he asked, addressing the attendees of the discussion.

The panel was attended by Centre for Analytical Executive Director Prasanna Tantri, young entrepreneur Parashuram, Transco CMD Krishna Bhaskar and others.