Hyderabad, Feb 25 (SocialNews.XYZ) Telangana Chief Minister A. Revanth Reddy said on Tuesday that Hyderabad has become a global life sciences hub and invited the world’s leading companies to make use of the advantages his state offers.
He said that the world’s best ecosystem in the fields of biosciences, biotech, and life sciences is being developed here.
Inaugurating ‘BioAsia 2025’, Revanth Reddy said the government has prepared plans to develop Hyderabad as a centre of innovation, research and development, manufacturing, and skill development.
Referring to the inauguration of US-based biopharma giant Amgen’s new technology and innovation centre in Hyderabad, he claimed that this is a testament to the state government’s commitment to further developing the life sciences sector.
He invited the world’s leading companies to make use of advantages in Telangana and join as partners of the state. “Our government is committed to providing simplified industrial policy, infrastructure and support as much as desired,” he said.
The Chief Minister said that the government attracted over Rs 40,000 crore in investments in the life sciences sector last year. These investments are spread across 150 projects.
He told the delegates that the government is developing Pharma Villages between the Outer Ring Road (ORR) and the upcoming Regional Ring Road (RRR). “We are hoping to create over five lakh new jobs. Green Pharma City, a key initiative under the Future City project, is growing rapidly. Major pharmaceutical companies have already signed MoUs with the Telangana government,” he said.
He noted that German company Milten Biotech launched its cell and gene therapy in Genome Valley. He welcomed four more multinational companies joining the ecosystem formally at BioAsia.
He claimed that in the last 25 years, Hyderabad grew as a pharma manufacturing, IT, and digital health powerhouse. Last year, the government organized the AI Healthcare Summit.
Revanth Reddy said BioAsia promoted Hyderabad as the world’s life sciences capital. The event has been attracting people from all over the country and the world.
He noted that many world-renowned pharma companies, healthcare, life science and biotech companies are operating from Hyderabad. The state government has been working with a vision of promoting the institutions engaged in research and innovation. It invested in higher education for a long time and generated a large number of scientists, technologists and engineers in the respective fields. The government also established Genome Valley, a cluster of life sciences companies and research institutions.
The Chief Minister said that Telangana is number one in India in attracting investments from India and abroad. It has the lowest inflation and the highest job creation, he said.
The state secured investments of Rs 1.80 lakh crore at the recently held World Economic Forum held in Davos. This will create about 50,000 jobs in different sectors.
Revanth Reddy said his government has set a goal to make Telangana a trillion-dollar economy in the next 10 years. It has accorded top priority to the services sector in the Hyderabad Core Urban City Area and undertaking many huge projects in Hyderabad, including Future City and AI City.
He also claimed that Hyderabad is also popular as the capital of electric vehicles in the country. Hyderabad registered the highest sale of electric vehicles in the country.
He announced that the government will develop a manufacturing hub between Outer Ring Road and Regional Ring Road outside the core city. The hub will be one of the largest manufacturing centres in the world and will be developed as a centre to meet the needs of ‘China Plus One’.
Since Telangana is a landlocked state, the state government also envisaged plans to develop a Mega Dry Port and improve special rail and road transport facilities to connect it to the seaports in Andhra Pradesh, he added.
Source: IANS
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