Sridhar Babu's Statement on Pharma City Scrapping

Sridhar Babu announcement on Pharma City

Information Technology and Industries Minister D. Sridhar Babu announced that the Hyderabad Pharma City project will not be moving forward due to legal complications and opposition from farmers who did not want to part with their land.

Hyderabad Pharma City update

"The government has decided to wind up the Pharma City project, keeping legal issues around it in view," he told the media on Tuesday in Hyderabad at the BioAsia event on the 21st. Some of the reasons for shelving the project include environmental concerns and the demands of farmers.

The Pharma City boasted of being the biggest cluster of pharmaceutical manufacturers. Nevertheless, according to Sridhar Babu, the government is determined to support the pharmaceutical industry by implementing an alternative policy that will promote pharma villages all over the state.

''One thousand to two thousand acres will be devoted to each Pharma Village. The need for land will be determined after consulting with potential investors,'' he added. Concerning the carrying on of good policies from earlier administrations, he assured the audience that the Congress government would do just that. ''But if there are any mistakes or inefficiencies, we're happy to fix them. All good policies will continue and be improved," Sridhar Babu declared.

Pharma industry in Hyderabad

The minister indicated that a new policy promoting small industrial units and an MSME policy will be introduced soon, with the aim of creating more jobs in the state. The government anticipates investments ranging from ₹22,000 crore to 30,000 crore in the next five years for the second phase of Genome Valley, which will be expanded over 300 acres.