Power is the real currency of economy: Revanth at Mumbai Climate Week

Chief Minister A. Revanth Reddy laid out Telangana’s long-term development roadmap at Mumbai Climate Week, asserting that economic expansion must move in tandem with environmental sustainability.

Addressing global leaders and industry stakeholders in Mumbai on Wednesday, the Chief Minister said power was the ‘real currency of any economy’, as development is measured by energy generation and consumption.

Telangana currently consumes an average of 16,610 MW per day, with peak demand expected to cross 19,000 MW this year and touch 34,000 MW by 2034 as the State targets a trillion-dollar economy. Nearly 25% of the State’s power is already sourced from green energy, he said.

Reiterating Telangana’s ambition to grow from a $200-billion economy to $1 trillion by 2034 and $3 trillion by 2047, he explained the State’s three-zone development strategy centered around Hyderabad and its periphery, which will focus on green-powered manufacturing and position Telangana as a ‘China plus 1’ alternative.

Highlighting urban initiatives, he said taxes on electric vehicles have been removed in Hyderabad, boosting EV adoption, while talks are under way with manufacturers for investments. Over two lakh autorickshaws are being retrofitted to green alternatives, more than 3,500 RTC buses are being replaced with electric buses, and the Hyderabad Metro is set to expand from 71 km to over 200 km. Industries are also being gradually shifted from the core city to peri-urban zones.

He said Hyderabad aims to achieve Net Zero by 2034 and will soon undertake a city-wide carbon footprint audit, adding that within five years there would be almost no industry within the urban area.

He said India’s vision for 2047 could be understood only by tracing its journey from 1947. He recalled that between 1950 and 1990, national priorities centred on education and irrigation, resulting in the creation of institutions ranging from village schools to premier centres such as the IITs, IISc and IIMs, along with the construction of major dams.

These efforts, he said, ensured food security, improved life expectancy and global recognition for Indian professionals by the 1990s.

The 1991–2020 reform era, the Chief Minister said, liberalisation, privatisation and globalisation transformed India into a services powerhouse driven by telecom and software revolutions.