TG Got Rs 36k Investments In Life Sciences: Sridhar Babu
Says these investments have a potential to create 51,000 direct jobs in Telangana
Telangana IT & Industries Minister D Sridhar Babu addressing a media conference on investments in life sciences sector in Hyderabad on Thursday. Shakthi Nagappan, Director, Life Sciences, also seen
Hyderabad: Telangana IT & Industries Minister D Sridhar Babu on Thursday said that the State attracted investments to the tune of Rs35,820 crore in the life sciences sector in the last 10 months and these investments would create 51,000 direct jobs.
“In the past 10 months, we signed agreements with 141 domestic and multinational companies for total investments worth Rs35,820 crore in life sciences. These investments are at various stages of implementation with some starting production and others gearing up for production in pharmaceuticals, vaccines, and R&D. A total of around 2 lakh direct and indirect jobs will be created,” the Minister told a media conference here.
According to him, Telangana is now a central hub for new pharmaceutical and life sciences companies in India, with plans to establish pharma clusters in multiple locations rather than just a single area.
Naming some major investments, the Minister said that Japan’s Takeda Life Sciences, in partnership with Hyderabad-based Biological E, is setting up a facility which will produce 50 million doses of dengue vaccines annually for global markets. “Further, Zoetis, the world’s largest animal healthcare company, has launched a Global Capability Center (GCC) in Hyderabad. The world’s leading biotechnology company, Amgen, also recently inaugurated its GCC, which will employ 3,000 professionals,” he said.
The Minister credited Chief Minister Revanth Reddy’s US visit for new agreements which resulted in the rapid establishment of GCCs by Zoetis and Amgen.
The Minister further said that the Chief Minister would unveil a new life sciences policy in two months to attract more investments into the key sector. The new policy will focus on land allocation and incentives for new investments.
On the land acquisition for industrial use, he said that the State government would acquire land for proposed pharma clusters in a transparent manner. “We will go for land acquisition with consent of farmers after addressing their grievances. However, we will not tolerate any attempts by the opposition parties to obstruct development in the State,” he explained.
IT and Industries Principal Secretary Jayesh Ranjan, Director of the Life Sciences Shakthi Nagappan, and TGIIC CEO Madhusudan, were present on the occasion.
