Hyderabad: Telangana Chief Minister Revanth Reddy said Tuesday that Hyderabad will become the life sciences capital of India in the coming years. Speaking at the inauguration of BioAsia 2025, he added that the government is preparing a conducive ecosystem for companies to invest in the state.
“In the coming decade, we want to transform Telangana into a one trillion-dollar economy. We have already become a state that has attracted the most investments,” Reddy said Tuesday.
Telangana is hosting the 22nd edition of the BioAsia, a global life sciences and healthcare summit, on 25 and 26 February. The summit, where top healthcare and life sciences players are in attendance, has sessions on the latest technology developments in the field, challenges faced by private players, and government policies in the pipeline for expanding research and development.
Queensland governor Jeannette Young, Union Industries Minister Piyush Goyal, former NITI Aayog and G20 Sherpa Amitabh Kant, and former chairman of the Indian Space Research Organisation S. Somanath were present at the event.
Reddy said that, in the coming years, the Telangana government will create “pharma villages”, potentially creating over 5 lakh jobs in the state.
“These villages will come up between the existing Outer Ring Road and the proposed Regional Ring Road,” the CM announced.
He also said that among other measures being considered by his government is a dedicated life sciences policy, which will further ease the process of investing in the state.
On the eve of BioAsia 2025, US-based biopharma giant Amgen opened its new technology and innovation centre in Hyderabad. Amgen CEO Robert Bradway announced an investment commitment of 200 million USD in the facility through 2025, with additional investments planned in the coming years.
The company said that the new facility, located in Hyderabad’s IT Hub, will be spread across 5.24 lakh square feet and will be able to accommodate over 3,000 people.
(Edited by Sanya Mathur)
Chandrababu Naidu made Hyderabad into a powerhouse of IT, banking and life sciences. Revanth Reddy is reaping the rewards of Mr. Naidu’s vision and hardwork.
Unfortunately, Mr. Naidu will have to recreate his magic in Andhra Pradesh – create another world-class city like Hyderabad. It’s easier said than done. Also, age is not in favour of Mr. Naidu.
People like Mr. Reddy are born lucky – they get the fruits of other people’s labour.