Telangana To Be 84 Lakh Crore Economy: Sridhar Babu

Telangana IT and Industries Minister Duddilla Sridhar Babu today said that the government aimed to transform the State into a trillion-dollar (Rs 84 lakh crore) economy by the end of the next decade.

Speaking at the conclusion of the IAMPHENOM India conference, organised by global AI leader Phenom at HITEC City, the minister emphasised the importance of talent development to fuel this vision, since artificial intelligence, semiconductors and quantum computing would be the key drivers necessary for the kind of exceptional economic growth needed to achieve that goal.

"Through initiatives like the Young India Skills University, we will ensure a skilled workforce capable of meeting the future demands. And companies like Phenom, a Hyderabad-based unicorn, also play a crucial role in empowering young talent, enabling individuals to realise their full potential," he said.

The conference brought together over 500 HR professionals, Chief Experience Officers (CXOs) and innovators to explore the transformative opportunities presented by AI and automation. Key participants included Olympic gold medalist Abhinav Bindra, Phenom President and co-founder Hari Bayireddi, Government IT Adviser Sai Krishna and Chief Strategy Officer Sreekant Lanka, among others.

Sridhar Babu urged organisations like Phenom to help unlock the potential of India's youth by creating opportunities for them. He also said that Hyderabad was emerging as a hub for global innovation, with AI and automation driving revolutionary changes in the workplace.