Telangana Charts Ambitious Path to Become Global Innovation Hub by 2047
The Telangana government has unveiled a comprehensive, time-bound roadmap under its Telangana Rising 2047 vision, setting ambitious targets to transform the state into India's most innovation-dense ecosystem for global capability centres, a national design powerhouse, and a premier global fintech destination.
Strategic Initiatives to Attract Global Capability Centres
As part of this long-term blueprint, the state plans to offer significant capital and operational reimbursements to attract Global Capability Centres (GCCs) while simultaneously building a robust talent pipeline to support this growth. The government recognizes that developing skilled professionals is crucial to achieving its vision.
The capacity-building strategy focuses on training programmes in artificial intelligence and machine learning, cloud computing, and cybersecurity to create a future-ready workforce. Additionally, the state aims to establish a center of design excellence and position Telangana as India's design capital by 2047, creating a comprehensive innovation ecosystem.
Digital Transformation and Industrial Automation
By 2030, the government intends to implement Telangana State Industrial Project Approval and Self-Certification System (TG-iPASS 2.0) and integrate self-help group credit histories with credit bureaus. This initiative aims to widen formal credit access and link grassroots financial data to mainstream lending institutions, creating financial inclusion opportunities.
The vision expands further by 2039 with plans to extend GCCs to tier-2 cities, create an international arbitration centre, and move toward fully automated, blockchain-enabled 'zero touch' industrial clearances under TG-iPASS 2.0. The government also plans to implement Geographic Information System (GIS)-based land allocation and digitization of industrial plots to support faster approvals while lowering capital costs for micro, small, and medium enterprises, thereby improving their global competitiveness.
Positioning Hyderabad as Global Fintech Capital
A key pillar of the 2047 vision focuses on elevating Hyderabad into a global fintech hub. The state aims to attract the headquarters of major banks and non-banking financial companies while simultaneously improving household financial access across all economic segments.
Through digitizing SHG members' payment histories and sharing them with credit bureaus, families will be able to secure personal loans at lower interest rates, creating unprecedented financial mobility. The government also plans to allow beneficiaries of the Mahalakshmi Yojana to convert future cash benefits into a productive asset grant of up to ₹2 lakh – a strategic shift intended to promote long-term financial stability rather than short-term relief.
The comprehensive roadmap sets clear milestones: launching TG-iPASS 2.0 and establishing an SME information exchange by 2030; expanding GCCs to tier-2 cities by 2039; and ultimately, by 2047, making Telangana the Asia-Pacific leader in GCCs. A statewide digital hub network across all districts and Hyderabad's emergence as a global fintech capital form the final goals of this transformative state vision.
