Telangana got Rs 36K cr funds in 1 year: Sridhar Babu
Telangana will have new dedicated life sciences policy soon
Hyderabad: Telangana attracted investments worth Rs 36,000 crore through 140 projects in the life sciences sector during the past year, said IT and industries minister D Sridhar Babu on Thursday.
To continue the momentum, the minister said, the government would introduce a dedicated life sciences policy, which will streamline processes, attract more investments, foster innovation, and drive sustainable growth across the critical sector.
Addressing a press conference, the minister said the 140 projects would provide 51,000 direct jobs and result in the creation of approximately 1.5 lakh indirect jobs.
From pharmaceutical manufacturing and R&D centres to GCC (Global Capacity Centres) innovation hubs, these investments across the life sciences value chain maked Telangana an undisputed leader in this space globally, he said.
“We have witnessed a surge of investments from several international and domestic companies, who have chosen Telangana as their gateway to India's rapidly growing life sciences ecosystem,” Sridhar Babu said. “This momentum includes significant investments from new entrants and also additional investments by companies that have already been in Telangana. This is a strong indicator of trust in the present government’s business-friendly approach.”
The government was also excited about the intersection of life sciences and technology. Hyderabad offers a deep talent pool with expertise in pharmaceuticals, biotechnology, AI / ML, data analytics, and digital health. Hyderabad has created a niche for itself as the hotspot for life sciences and healthcare GCCs. The state government was proactive in reaching out to the global companies and showcasing Hyderabad as a preferred destination, he said.
Sridhar Babu said the government was people-friendly and would follow democratic measures. While it was intent on getting industries, the state put people’s health also a high priority and would take all steps to ensure that their health is not compromised.
“We are planning pharma clusters to meet the varied needs of the industry. New and advanced technologies are available now for the companies to ensure there is no adverse impact,” he said.