Hyderabad: Telangana has been emerging as a leader in the life sciences sector and the new State has an immense scope for further industrial growth. In a latest development, Government of Telangana is contemplating a Vision 2030 action plan to boost the life sciences sector in the state.
IT and Industries Minister KT Rama Rao met with the representatives of Telangana Life Sciences Advisory Committee in Hyderabad on March 6, 2018. In the meeting, Minister discussed the investment opportunities and action plan to boost life sciences sector in the state.
Minister said that the government of Telangana aims at attracting new investments to the state and at the same time gives priority to the existing industries. The government is also planning to set up an investment promotion body which will closely work with investors.
In the meeting, Minister KT Rama Rao said, “Government of Telangana has recognized life sciences as a thrust area and is giving top priority to research and innovation in pharma sector.”
Minister said that Genome Valley, Hyderabad Pharma City, and Medical Devices Park together make Hyderabad a unique destination for global life sciences industry. In order to strengthen the sector, the government will also set up an incubator similar to T-Hub at Genome Valley. The proposed incubator will help in research and innovation in life sciences sector.
Minister KT Rama Rao stated that the government is working on strengthening the life sciences ecosystem in the state and will be exploring opportunities in the fields of digital medicine and artificial intelligence.
Research and Innovation Circle of Hyderabad (RICH) will coordinate between Pharma companies, educational institutions and research institutions like CCMB to strengthen the research work.
The Minister has informed the advisory committee members that he will request to sanction a special fund in the upcoming budget to help the start-ups in life sciences sector. (INN)