Hyderabad: Union Minister G Kishan Reddy has said that Hyderabad occupies a unique position not just as the state’s capital, but also as a cornerstone of India’s economy, flourishing as an IT hub, pharmaceutical capital, aerospace technology centre, and an innovation corridor.

He addressed the Telangana Rising Global Summit on Monday, highlighting the city also as a place “where technology meets tradition and science blends with spirituality”.

Kishan Reddy recounted that Prime Minister Narendra Modi assumed office in 2014, the same year Telangana was formed, with the slogan of change and transparency. Since then, India has emerged as a powerful nation globally, advancing in poverty eradication, digital empowerment, infrastructure development, farmers’ welfare, and startup encouragement. He reiterated Modi’s vision of making India a developed nation by 2047, stressing that this dream requires active cooperation and healthy competition among states to attract industries, talent, and multinational investments.

Referring to India’s economic strides under the Modi regime, Reddy noted that Foreign Direct Investment (FDI) between 2014 and 2025 reached $748.78 billion. This marks a 143 per cent growth compared to the previous decade. Reforms introduced by the Modi government, he said, have fostered transparency, accountability, and corruption-free governance, boosting investor confidence and positioning India as a safe destination for global investments.

Under initiatives like Atma Nirbhar Bharat and Make in India, India has become the world’s second-largest mobile phone manufacturing country, expanding from just two units in 2014 to 300 units today. Defence exports have surged 34 times, from Rs 686 crore in 2013-14 to Rs 23,622 crore. Infrastructure growth has been equally impressive, with operational airports doubling from 74 in 2014 to 160, and significant capital investments in railways and Metro networks. Over the past decade, 25 crore people have risen out of poverty, while inflation remains under control. India, Reddy said, is playing a pivotal role as a bridge between the Global North and South.

Turning to Telangana, Reddy highlighted that the Centre has provided over Rs 10 lakh crore since 2014 through devolution of taxes, grants, and schemes. Investments include Rs 1.5 lakh crore for National Highways, Rs 32,000 crore for railway projects, and Rs 2,500 crore for upgrading 42 railway stations under the Amrit Bharat Station Scheme. The Kazipet Railway Manufacturing Unit, built with an outlay of Rs 521 crore, is nearing completion, while National Thermal Power Corporation has commissioned a 1,600 MW thermal power plant in Ramagundam and has planned another 2400 MW facility. The PM Mitra Textile Park in Warangal is expected to generate one lakh jobs, and the Zaheerabad Industrial Corridor is being developed with an outlay of Rs 2,300 crore.

Prestigious institutions such as AIIMS Bibinagar, IIT Hyderabad, DRDO, HAL, BDL, and MIDHANI strengthen Telangana’s economic landscape. With Telangana already being the fourth-largest economy in India, Reddy expressed his confidence that it will soon rise to third place. He reaffirmed the Centre’s commitment to work with the Telangana government and expressed his hope that the summit would attract substantial investments, particularly to Hyderabad.