Telangana attracts Rs 36,000 crore investments in life sciences sector in 1 year

Hyderabad: Telangana has attracted investments worth Rs 36,000 crore though 140 projects in the life sciences sector during the past one year, Minister for IT and Industries D Sridhar Babu said on Thursday.

Addressing a press conference, the minister also said the government will shortly introduce a dedicated life sciences policy, which will further streamline processes, attract investments, foster innovation, and drive sustainable growth across the critical sector.

“We have welcomed more than 140 projects with a cumulative investment of about Rs. 36,000 crores and 51,000 direct jobs ( during the past one year). This will also result in creation of approximately 1.50 lakh indirect jobs.

From pharmaceutical manufacturing and R&D centers to GCC (Global Capacity Centres) innovation hubs, these investments across the life sciences value chain makes Telangana an undisputed leader in this space globally,” he said.

Listing out the life sciences companies which are investing in Telangana, the Minister said it is a result of the state government’s efforts to proactively reach-out to these global companies aggressively showcasing Hyderabad as a preferred destination

On the proposed life sciences policy, he said it is being designed to address the evolving needs of the industry, and ensure that Telangana consolidates its position as an important node in the global life sciences value chain.

Condemning the recent attack on the government officials in Vikarabad district during a public hearing on land acquisition, Sridha babu alleged opposition BRS’ role in the incident.

Inputs from PTI