Telangana Seeks Centre’s Aid for Trillion-Dollar Economy

 Hyderabad: IT Minister D. Sridhar Babu has urged the Centre to support the Telangana government’s vision to transform the state into a trillion-dollar economy over the next decade. One trillion dollars is equivalent to Rs 84 lakh crore as per current exchange rate.

Speaking at a National Commerce Council meeting in Mumbai on Friday, Sridhar Babu explained the state government's strategic plans and targets. The meeting, chaired by Union commerce minister Piyush Goyal, focused on trade policies, business development and changes in the economy, with commerce ministers from several states in attendance.

Sridhar Babu brought to the notice of Piyush Goyal that Central schemes such as the Trade Infrastructure for Export Scheme (TIES) and revival schemes for traditional industries have not significantly helped the states due to lack of funds. He sought assistance in establishing a turmeric processing unit in the Nizamabad district to produce powder and natural dyes to boost exports and provide better income for turmeric farmers.

Sridhar Babu also sought help to set up a rapid chilli-drying plant in Khammam or Mahbubabad to promote exports. A testing lab for spices should be established in Nizamabad or Warangal to issue quality certification standards and ease customs clearance. To increase the shelf life of fruits and vegetables, Telangana needs an irradiation plant to reduce food waste.

The minister also highlighted that the state could excel in the production of textiles, plastics, polymers and medical equipment. With the central government’s support, these sectors can grow rapidly and create more employment opportunities. Additionally, the minister urged central support for the export of gems, gold jewellery, toys, furniture, and handicrafts.