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Municipal Administration and Urban Development Minister KT Rama Rao
KT Rama Rao on Tuesday said that because of the revolutionary policies of the State government, about 47 billion dollars of investments have come into the state in just eight years
Hyderabad: Industries Minister KT Rama Rao on Tuesday said that because of the revolutionary policies of the State government, about 47 billion dollars of investments have come into the state in just eight years. The Minister met the heads of world-renowned health care companies in a meeting which was held in the backdrop of the World Economic Forum meeting. He said that Telangana was introduced as the most successful Startup state in the history of India.
Rama Rao specifically mentioned the Ts-IPASS industrial policy approval process, which was introduced and successfully implemented by the state. Recognising the uniqueness and priority of Telangana state, the World Economic Forum was going to set up a special center for the fourth industrial revolution in Hyderabad, and this center would work especially for the advancement of healthcare and life sciences sector, he said.
At present, there are more than 1,000 life sciences companies in the state, including Novartis, Medtronic, Bayer, Sanofi, Roche, Johnson and Johnson and other international companies that are continuing their operations in Hyderabad. He said that 35 percent of the vaccines manufactured in the world are manufactured in Telangana alone. Telangana is the top state in the world, with more than 200 FDA-approved manufacturing units.
Rao said that many companies in Telangana state had manufacturing units and large-scale research and development centers in the life sciences and pharma sector. He informed the delegates present at the meeting that Telangana was making great progress in the IT and IT allied sector along with pharma life sciences, and companies like Amazon, Apple, Google, Microsoft, and Facebook have their second-largest campuses in Hyderabad. He said many technologies like data sciences, artificial intelligence, machine learning, and metaverse had been utilized by life sciences companies in Telangana state. He said Hyderabad city has human resources with excellent skills in chemistry, biology, and genetic engineering.
