State secured Rs 36K crore investments in 10 months, created 51K jobs: Sridhar Babu

Highlights

The IT and Industries Minister discloses that by January 2025, CM will announce a policy aimed at providing land allocations and incentives for companies in life sciences sector

Hyderabad: State IT and Industries Minister D Sridhar Babu has claimed remarkable achievements in thelife sciencesand pharmaceutical sectors. The Minister disclosed that within the past ten months, agreements amounting to Rs 35,820 crore have been secured.

Many companies have already commenced expansion and production, expected to directly create 51,086 jobs and indirectly provide employment opportunities for an additional 1,50,000 people, he said. Japan’s Takeda Life Sciences, in partnership with Hyderabad-based Biological E, is set to produce 50 million doses of dengue vaccines annually for global distribution. Additionally, Zoetis, the world’s largest animal healthcare company, has launched a Global Capability Center (GCC) in Hyderabad, he added.

The world’s leading biotechnology company, Amgen, also recently inaugurated its GCC, which will employ 3,000 professionals. The Minister credited Chief Minister Revanth Reddy’s U.S. visit for facilitating these agreements, leading to the rapid establishment of these GCCs by Zoetis and Amgen.

Sridhar Babu revealed that in the coming two months, Chief Minister Revanth Reddy will announce a policy aimed at providing land allocations and incentives for companies willing to establish operations in Telangana, particularly in the life sciences sector. He noted that no other Indian state has yet formulated a comparable policy.

The Minister assured that the government will conduct land acquisition for pharma clusters transparently and only after fulfilling public demands and gaining community consent. He urged any concerned farmers to approach officials with their grievances, adding that the government remains undeterred by the opposition’s provocations. The minister emphasised that the government will not tolerate any forces attempting to obstruct development.