Telangana attracts over Rs. 10,000cr in Life Sciences in 4yrs
Telangana, already home to pharma majors, attracted Rs. 10,222cr investments in the Life Sciences sector in the past four years, state IT and Industries Minister KT Ramarao said. This included Rs. 3,000cr in research and development, Ramarao said adding its aim was to take the overall industry size to $100 billion in the future. "We're happy that our policies are bearing fruit," Ramarao said.
Telangana govt approved over 700 investment proposals
After the introduction of TS-iPASS (Telangana Industrial Policy) in 2015, about 700 investment proposals, including over 100 in R&D, had been approved by the state government and of this 80% were in the stage of project execution, a statement said. Noting that Life Sciences sector added value to the lives of the people, Ramarao said the government was committed to fostering its growth.
Investments envisage about 20,000 high-value R&D employment
The investments envisage about 20,000 high-value R&D employment and around 50,000 manufacturing jobs. The contribution of Life Sciences sector to overall product export value from Telangana was "a whopping" 36%, which has almost doubled, the statement added. With the focus on cluster development initiatives such as Hyderabad Pharma City and Genome Valley 2.0 among others, the government extended "a red carpet to industry".
Pharma majors in Telangana
Telangana has become home for pharma majors such as Aurobindo Pharma, Dr. Reddy's, Ferring Pharma, Chemo, GSK, Syngene, Slayback Pharma, and Johnson & Johnson among others.
