BioAsia 2023: "Hyderabad to be Health-Tech Mecca of the World", KTR

Health Tech Mecca of the World: Four of the top 10 global investors are in Hyderabad and have dedicated centers.

By Newsmeter Network  Published on  24 Feb 2023 10:17 AM GMT
BioAsia 2023: Hyderabad to be Health-Tech Mecca of the World, KTR

KT Rama Rao, Minister for Industries & Commerce, Government of Telangana addressing at the inaugural ceremony of BioAsia 2023 with senior dignitaries.

Hyderabad: Collaboration among healthcare providers and technology helped to deal with Covid 19 and it has to be further strengthened to meet the future challenges in health discussed and debated by government dignitaries, business executives, scientists, researchers, and other delegates at the 20th Edition of BioAsia 2023.

K T Ramarao, Minister for Industries and commerce & IT, Government of Telangana stated that the existing health and pharmaceutical infrastructure in Hyderabad has touched an ecosystem of $ 80 billion in 2022. K T Rama Rao says, “We had set out a vision of doubling our ecosystem value to $100 billion by 2030. A lot of people felt that it was too ambitious. Given the current momentum, I am confident that we will achieve our target of $ 100 billion by 2025 itself, five years ahead of schedule. This represents a phenomenal ecosystem value growth in Telangana at a mind-boggling 23% over the last two years compared to the national average of about 14%”.

Health Tech Mecca of the World

Four of the top 10 global investors are in Hyderabad and have dedicated centers. There is work executed in Research and Development and technology partners like Aragen, Sai, Syngene, Deloitte, Accenture, Tech Mahindra, and many others. In the last 7 years, new investments of $3 billion and 4.5 lakh jobs have been created. Telangana is already on the roadmap of life sciences destinations.

“We have a unique opportunity in Hyderabad where technology convergence in healthcare is feasible. With the life sciences ecosystem $250 billion by 2030, we will work on a program to position Hyderabad as the Heath-tech Mecca of the world,”

Novartis makes Hyderabad its corporate center

Dr. Vas Narasimhan, CEO of Novartis, Switzerland said, “Hyderabad is no longer a service center for Novartis, it is our corporate center, one of the three in the whole world. We have brought the core of our drug development, data management, patient safety, manufacturing centers, procurement, people management, and multiple senior roles into the city. The journey started 15 years ago for building a capacity center and it has then grown multifold.”

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