Telangana’s Economy Set to Double by 2030, Creating 16 Lakh Jobs

Hyderabad: Telangana’s economy, valued at approximately $187 billion in 2023-24, is set to double by 2030, generating an estimated 16 lakh job opportunities across multiple sectors. A report by the Confederation of Indian Industry (CII) Telangana, in collaboration with EY-Parthenon, highlights the potential of emerging industries like life sciences, IT, renewable energy, electric mobility, and defense to contribute nearly five lakh of these jobs.

The report, titled "Bridging the Gap: Integrating Skilling into Telangana’s Education System," was unveiled during the CII Telangana Edu Summit 2024 held in Hyderabad. This fifth edition of the annual flagship event focused on skilling, education, and industry-academia collaboration.

Key Highlights of the Report

• Telangana recorded the highest year-on-year real GDP growth among Indian states, at 9.2%.
• The state’s growth is attributed to strategic investments in education, infrastructure, and skilling initiatives.
• There is a growing demand for skills-oriented training in both traditional and emerging sectors to meet the expected job creation targets.

Emphasizing Skills for Tomorrow

Sai Prasad, Chairman of CII Telangana, emphasized the importance of policy frameworks that position Telangana as a future $1 trillion economy. He stated:
"Creating an ecosystem for sustainable growth requires enhanced industry-academia collaboration. Integrating industry internships is a key focus area."

Dr. Avantika Tomar, Partner at EY-Parthenon, highlighted the need for aligning academic curricula with industry demands, fostering strong partnerships for internships, and focusing on structured courses and soft skills.

Summit Themes and Discussions

• The summit, themed “Skills for Tomorrow: Integrating Education, Employment & Global Competence,” featured discussions on:
• Building Skills for Tomorrow.
• Leveraging New-Age Technologies for Industry Collaboration.
• Preparing Students for Global Job Markets.

The event concluded with a valedictory session on reimagining pedagogy to nurture talent for the future. Academicians, senior government officials, industry leaders, and educators attended the summit, reinforcing the commitment to preparing Telangana’s workforce for the global stage.

Telangana’s roadmap to a thriving economy underscores the pivotal role of education, skill development, and industry partnerships in achieving its ambitious targets.

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