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Hyderabad Pharma City will be launched soon, says KTR
Hyderabad Pharma City will be launched soon, says KTR
Telangana is all set to achieve its ambitious target of taking the lifesciences sector value to about $250 billion by 2030 from the current $80 billion, State Industries Minister KT Rama Rao said here, while addressing CII Telangana’s annual meet here.
Hyderabad: Telangana is all set to achieve its ambitious target of taking the lifesciences sector value to about $250 billion by 2030 from the current $80 billion, State Industries Minister KT Rama Rao said here, while addressing CII Telangana's annual meet here. He is optimistic that the State government's project Hyderabad Pharma City, which was stuck up due to ongoing court cases, will be launched soon.
"The launch of Hyderabad Pharma City is on the anvil. This will be the world's largest pharma cluster in a single location. Presently, it is in the last leg of the court cases and reserved for the judgment. We are hopeful that the judgment will come soon. I am sure it will attract $8 billion worth of investments and it has the potential to create five lakh jobs initially," he said during the conference.
"However, Hyderabad Pharma City did not receive any support from the Centre. The State has also been denied a bulk drugs manufacturing cluster, other manufacturing clusters, industrial corridors and others. Even though a special incentive was promised in the AP Reorganisation Act, nothing has been given to both the Telugu States of Telangana and Andhra Pradesh," the Minister said.
He said, "The employment opportunities at Hyderabad Pharma City will grow further as we have a number of plans with respect to the pharma sector in the city. The demand is more than supply right now. We are expanding Genome Valley and Telangana Medical Devices Park. About 50 companies are currently running their operations in this medical devices park and more 30 firms will be unveiled soon."
Telangana Medical Devices Park has the world's largest stent manufacturing facility in single location. Recently, Serum also announced to set up a centre here.
