Duddila Sridhar Babu
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Hyderabad: IT and Industries minister, Duddila Sridhar Babu said that Telangana secured over Rs 36,000 crore in investments from over 140 projects over the last one year in the Life Sciences sector. These investments are set to create 51,000 direct jobs and an estimated 1,50,000 indirect jobs, solidifying Telangana's status as a powerhouse in the global life sciences industry, the minister said.
Speaking on the state’s achievements, at a meeting organised on Thursday Sridhar Babu highlighted that Telangana has become a focal point for both international and domestic life sciences companies, with Hyderabad serving as the epicenter for innovation. The minister attributed this rapid growth to the proactive, business-friendly policies championed by the Chief Minister and the government’s strategic focus on life sciences and healthcare.
“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. From pharmaceutical manufacturing and R&D centers to GCC innovation hubs, these investments across the life sciences value chain make Telangana an undisputed leader in this space globally. This momentum not only includes significant investments from new entrants but also additional investments by companies that have already seen the value in expanding in Telangana. This is a strong indicator of their trust in present government’s business friendly approach that we have championed over the last one year and the strong ecosystem built over the last 2-3 decades,” said Sridhar Babu.
He further added, that at the heart of government strategy lies Genome Valley, India’s first and largest organized R&D cluster, which continues to attract industry leaders and pioneering research organizations. Another area that the government is excited about is 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. With these extraordinary strengths, Hyderabad has created a niche for itself, as the hotspot for life sciences and healthcare Global Capability Centers (GCCs). We are proud that these investments highlight our ability to attract companies across the life sciences and healthcare value chain that include pharma, biotech, medtech, healthcare providers and health insurance players. This is a result of our efforts to proactively reach-out to these global companies aggressively showcasing Hyderabad as a preferred destination,” he said.
The industries minister also said that shortly Telangana government would introduce a dedicated life sciences policy, which will further streamline processes, attract investments, foster innovation, and drive sustainable growth across this critical sector. This upcoming policy is designed to address the evolving needs of the life sciences industry, ensuring Telangana consolidates its position as an important node in the global life sciences value chain, he added.