IT and Industries Minister KT Rama Rao invited healthcare companies from around the world to invest and establish their units in Hyderabad, which is already a home for over 1,000 companies in the life sciences sector.  He referred to Telangana as the most successful start-up State in the history of India.

“The next decade belongs to life sciences and healthcare, and the Telangana government is committed to promote the sector,” he said, promising the State government’s full support to companies looking to invest in Telangana.

On Tuesday, the Minister said that due to revolutionary administrative and industrial reforms, Telangana received investments worth 47 billion dollars within eight years of its formation, during a meeting with heads of multi-national companies from the Healthcare and life sciences sectors at the ongoing World Economic Forum in Davos. He described the TS-iPASS, a single window system for speedy permissions for those seeking to start their operations in the State, which is being emulated by many others in the country.

“The World Economic Forum has recognised the efforts of Telangana State in development of healthcare and life sciences ecosystem in Telangana and has come forward for establishing its Centre for the Fourth Industrial Revolution at Hyderabad in collaboration with the State government. Telangana has a unique opportunity to spearhead healthcare and life sciences sector in South Asia,” he added.

Several MNCs in the life sciences and healthcare sectors, including Novartis, Bayer, Sanofi, and Johnson and Johnson, are operating from Hyderabad, which is also home for production of nearly 35 percent of the world’s vaccines and also more than 200 FDA approved bulk drug manufacturing units.

Rama Rao also stated that Hyderabad not only has manufacturing units in the life sciences and pharmaceutical sectors, but also several large-scale research and development centres. With strong presence of IT and IT-enabled services companies, he said people from different sectors will have access to emerging technologies like data sciences, artificial intelligence, machine learning and metaverse among others. There was also a large pool of human resources specialised in chemistry, biology, and genetic engineering available for the companies seeking to establish their units, he said.

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