Telangana sets $100-bn goal in life sciences sector

Trade and investment to an extent of $3 billion have been announced during the past 19 editions and over 250 letters of intents, bilateral cooperation agreements and MoUs have been signed - KT Rama Rao, IT Minister

Hyderabad: Investments and trade worth more than $3 billion took place during the past 19 editions of BioAsia, a flagship annual life sciences convention, and the 20th edition is set to be held from February 24 to 26, Telangana Industries Minister K T Rama Rao said here on Tuesday.

Speaking to reporters on various steps being taken by the state government to promote the life sciences sector, Rama Rao said Telangana has a target of making the industry worth $100 billion from $50 billion in 2021. "Trade and investment to an extent of $3 billion have been announced during the past 19 editions and over 250 letters of intents, bilateral cooperation agreements and MoUs have been signed," he said.

According to him, BioAsia hosted delegates from over 100 countries during the event in Hyderabad which helped in showcasing the ecosystem and policies to the global leaders, while over 20,000 partnering meetings have also been held.

On the 20th edition of BioAsia, the minister unveiled the theme of the event, 'Advancing for ONE - Shaping the next generation of humanized healthcare'. He said the latest edition is expected to see about 50 countries participating with the United Kingdom as the partner country and Flanders, the international partner region.