CM Revanth lays stone for ICHOR Biologics’ facility at Genome Valley, calls for ‘China Plus One’ strategy

Hyderabad: Telangana has attracted investments worth Rs 3.28 lakh crore in just 18 months, chief minister A Revanth Reddy announced on Tuesday.

He said his government is working to position the State as a global manufacturing hub under the ‘China Plus One’ strategy and aims to transform Telangana into a trillion-dollar economy by 2035.

‘Hyderabad to be China Plus One alternative’

Speaking after laying the foundation stone for ICHOR Biologics’ new facility at Genome Valley, CM Revanth said the world is looking for alternatives to China for manufacturing and supply chains, especially after the Covid-19 pandemic.

“The entire world wants to shift investments and production. Most investors are looking towards India. My vision is to make Telangana, Hyderabad, the alternative to China Plus One. We are creating the necessary infrastructure, policies, and ecosystem to achieve this,” he said.

Support for industries across sectors

The chief minister invited global investors in pharma, electric vehicles, IT and other sectors to Telangana, assuring them of government incentives, support, and fast-tracked permissions.

‘Telangana Rising 2047’ vision document in December

CM Revanth announced that his government would unveil its ‘Telangana Rising 2047’ vision document on December 9, coinciding with its second anniversary.

The document outlined the goal of making Telangana a $1 trillion economy by 2035 and a $3 trillion economy by 2047, thereby contributing 10 per cent to India’s vision of becoming a $30 trillion economy by 2047.

“Our competition is not with neighbouring states like Karnataka or Andhra Pradesh. Telangana will compete with countries across the world,” he asserted.

Policy reforms to attract investments

The chief minister criticised previous governments led by TDP, Congress and BRS in undivided Andhra Pradesh and later in Telangana, stating that they failed to bring any significant change in industrial policies. His government, he said, is focused on reforming policies to attract maximum investments.

Genome Valley: Vaccine and bulk drugs hub

Highlighting Hyderabad’s Genome Valley, Reddy said it is India’s first systematically developed R&D cluster and has emerged as the vaccine and bulk drugs capital of the world. He appreciated the industrialists based there, noting that the COVID-19 vaccine was also produced from this cluster.

Recording above the national average

Telangana’s life sciences sector has recorded an impressive Compound Annual Growth Rate (CAGR) of 23 per cent, well above the national average of 14 per cent, said IT minister Duddilla Sridhar Babu, who was also present at the event.

The sector currently contributes 2.5% to 3% to Telangana’s GSDP, compared to the national average of 1.5%, underscoring the state's leadership in this space.

According to the CBRE Global Life Sciences Atlas 2025, Hyderabad has earned a place among the world’s leading life sciences clusters alongside Boston, San Francisco, Cambridge and Tokyo. Hyderabad is the first Indian city to feature in this list, the minister said.

Office space in Life Sciences

The IT minister said that, in 2024, life sciences companies leased 2.4 million sqft of office space in Hyderabad, up from 1.8 million sqft in 2023 and 0.6 million sqft in 2022, reflecting the sector’s exponential growth.

“Telangana is emerging as a global model for building a robust life sciences ecosystem. Plans are underway to establish dedicated pharma villages along the Hyderabad–Nagpur and Hyderabad–Bengaluru corridors to accelerate this vision,” he said.