Telangana government is working to make Telangana a trillion dollar economy over next 10 years, Chief Minister A Revanth Reddy said
.Speaking in the inaugural session of the two-day Bio Asia 2025, the flagship pharma and biotech event of Telangana, here on Tuesday, Reddy said the State government was working with a vision of promoting institutions focused on research and innovation.
While BioAsia made Hyderabad a hub for pharma and life sciences companies, the State Government undertook many huge projects in Hyderabad, including Future City and AI City. “Now, Hyderabad is also popular as the capital of electric vehicles in the country. Hyderabad registered the highest sale of electric vehicles in the country,’‘ the Chief Minister said.
The government would develop a manufacturing hub between the Outer Ring Road and Regional Ring Road outside the core city, which will be one of the largest manufacturing centres in the world to be developed as a centre to meet the needs of China Plus One strategy of the global majors, Reddy said while inviting investments from the companies.
Hyderabad was being developed as the “world’s best ecosystem’‘ in the fields of biosciences, biotech and life sciences. Prepared plans to develop it as a centre of innovation, research and development, manufacturing and skill development.
“The government successfully attracted over ₹40,000 crore in investments in the life sciences sector last year in 150 projects. Green Pharma City, a key initiative under the Future City project, is growing rapidly. Major pharmaceutical companies have already signed MoUs with the Telangana government,’‘ Reddy said.
Since Telangana is a landlocked state, the state government also envisaged plans to develop a mega dry port and improve special rail and road transport facilities to connect it to the sea port in Andhra Pradesh, he added.