Build companies, not careers: Revanth

metro india news  I hyderabad : Telangana Chief Minister A Revanth Reddy on Wednesday urged youngsters to build start-ups and strengthen the economy, observing that Indian-origin executives such as Microsoft CEO Satya Nadella lead global companies they did not found or own. Speaking after inaugurating the Samakhya Chamber of Commerce here, he said Prime Minister Narendra Modi was seeking the cooperation of states to make India a USD 30 trillion economy by 2047.

Reddy said his focus was on development and employment generation, adding that politics came into play only during elections. He said top executives such as Shantanu Narayen of Adobe and World Bank President Ajay Banga, an alumnus of Hyderabad Public School, were serving global corporations.

"Our people are only on the service side so far. My appeal to the young generation is this. We are neither inventors nor owners of (global) corporate companies. We are serving them. Microsoft CEO Satya Nadella is not the owner of the company. He is not the inventor (founder) of Microsoft," he said.

Referring to the presence of Pawan Chandana, founder of space technology unicorn Skyroot Aerospace, on the stage, Reddy said the emergence of the company had made Telangana proud. "If 10 Skyroots emerge from our state, our region, our economy will be strengthened," he said. He said countries that had achieved significant economic growth were those with substantial women's participation in the workforce.

The Congress government in undivided Andhra Pradesh, which was in power from 2004 to 2014, had continued the policies of the preceding TDP government, which ruled from 1994 to 2004. Similarly, his government had not scrapped any beneficial policy initiatives introduced by the BRS regime between 2014 and December 2023, Reddy said.

Emphasising that the state government's goal was to transform Telangana into a USD one trillion economy by 2034 and a USD three trillion economy by 2047, he said the state had been divided into three zones — CURE (Core Urban Region Economy), PURE (Peri-Urban Region Economy) and RARE (Rural Agriculture Region Economy) — to achieve the target.

The CURE area, within Hyderabad's Outer Ring Road (ORR), is being developed as a hub for the IT and services sectors. The PURE zone, between the ORR and the Regional Ring Road (RRR), will promote manufacturing industries, industrial parks and logistics.

CM calls for more women at work

More than 50 per cent of the women are part of the workforce in those (high-growth) countries. That share is lower in our country. So, women entrepreneurs need to be encouraged," he said.

As part of its efforts to promote women-led development, the state government had facilitated bank linkages worth Rs 61,000 crore for women's self-help groups (SHGs), he said. The state has 67 lakh members in women's SHGs. The state government had enabled SHGs to purchase buses and lease them to the state-run Road Transport Corporation, he said.

Reddy said the state government was ready to encourage entrepreneurship. He emphasised that Telangana had not witnessed any major policy changes, unlike some other states.