Telangana leads in attracting investments from India and abroad: Revanth Reddy
State govt. working with vision to promote research institutions: Revanth Reddy
Hyderabad: The BioAsia promoted Hyderabad as the world's life sciences capital and the BioAsia conference has been attracting people from all over the country and the world, guiding the world to set the future of healthcare sector on the development trajectory.
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, which are doing research and innovation apart from investing in higher education for a long time.
A large number of scientists, technologists and engineers in the respective fields were generated, Chief Minister A Revanth Reddy said after inaugurating the Bio Asia-2025 conference at HICC here. He said the State government set a goal to make Telangana a trillion US dollar State economy in the next 10 years and the government accorded top priority to the services sector in Hyderabad core urban city area besides undertaking many huge projects in Hyderabad, including Future City and AI City.
Now, Hyderabad is also popular as the capital of electric vehicles in the country. It registered the highest sale of electric vehicles in the country. The State government will introduce 3,000 electric buses in the TSRTC soon.
The government will develop a manufacturing hub between Outer Ring Road (ORR) and Regional Ring Road (RRR) outside the core city. The hub will be one of the largest manufacturing centers in the world and develop it as a center to meet the needs of China Plus One. “We will invite investments from all over the world,” he said.
Radial roads will connect the ORR and RRR and develop clusters on both sides of these roads. 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 sea port in AP.
“Hyderabad is being developed as the world's best ecosystem in the fields of biosciences, biotech and life sciences. Prepared plans to develop it as a center of innovation, research and development, manufacturing and skill development,” Revanth Reddy explained, adding that Genome Valley was already established.
The US-based Amgen Company expanded its operations in Hyderabad. This is a testament to the state government's commitment to cooperation in the life sciences sector, he recalled.
“We invite the world’s leading companies to make use of the advantages in Telangana and join us as partners. Our government is committed to providing simplified industrial policy, infrastructure and support as much as desired,” he said.
Telangana is number one in India in attracting investments from India and abroad. The State has the lowest inflation and the highest job creation. Telangana secured investments of Rs 1.80 lakh crore at the recently held World Economic Forum held in Davos.
About 50,000 jobs are being created in different sectors. The government successfully attracted over Rs. 40,000 crore in investments in the life sciences sector last year. These investments are spread across over 150 projects.
Stating that the government was developing pharma villages between ORR and RRR, he exuded confidence 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.
German company Milten Biotech launched its cell and gene therapy in Genome Valley. Welcoming four more multinational companies to the ecosystem on this platform, he said that in the last 25 years, Hyderabad grew itself as a pharma manufacturing, IT and digital health powerhouse.
He recalled that the State government organized an AI healthcare summit last year and congratulated Professor Patrick Tan who received the Genome Valley Excellence Award.