Hyderabad: Telangana Labour and Mines Minister G Vivek Venkataswamy on Saturday, March 7, said that the state government is aiming to achieve a USD 3 trillion economy.

“To achieve this ambitious goal, the government is maintaining continuous engagement with industry leaders and stakeholders,” he said, while addressing the Confederation of Indian Industry (CII) annual meeting in Hyderabad.

Venkataswamy said the government is focused on skill development to prepare the youth for emerging industrial opportunities.

“The Employment Department has established Advanced Technology Centres (ATC) to train young people in line with the requirements of modern industries,” he said. The minister said that the Telangana government has also held discussions with the CII to identify the specific skills required for upcoming industries.

He observed that Telangana is witnessing a steady inflow of investments and several new industries are expected to be established in the state.

“In view of this, the government is making efforts to ensure the availability of a skilled workforce that can meet the future demands of industry. New training courses aligned with evolving industrial needs are also being introduced,” the minister added.

Venkataswamy stressed that while the government is committed to improving the ease of doing business, equal importance is being given to ensuring the speed of doing business so that investments can be implemented quickly.

He reminded the attendees that the industries must also comply with the regulations of the state. He urged industrial units to strictly adhere to safety guidelines and statutory norms prescribed by the Government of India and the Government of Telangana.

Referring to the recently introduced labour codes, he said that industries must ensure proper compliance to safeguard the interests of workers.

Venkataswamy added that the cost of following safety and statutory norms is minimal when compared to the losses that may arise due to negligence or non-compliance.

Recalling the contributions of former Union Minister Kaka Venkat Swamy, the minister noted that he had once proposed the introduction of pension schemes for private sector employees despite facing resistance from industries at that time.

“Today, such social security measures have proved to be highly beneficial for workers,” he said.

The minister called upon industries to actively cooperate with the government and comply with statutory regulations to ensure sustainable industrial growth and worker welfare in the state.