Telangana committed to growth, political changes won't matter, says CM Revanth Reddy
Revanth Reddy
on Tuesday said that Telangana remains committed to industrial growth, regardless of political transitions, and is now working to introduce globally competitive, futuristic policies to attract investments across sectors.
The Congress govt, he said, is focused on transforming Telangana into a $3 trillion economy by 2047.
Speaking after laying the foundation stone for ICHOR Biologics 2.0 expansion unit at Genome Valley, the CM said continuity and consistency in industrial policy boost investor confidence.
"When policies do not change arbitrarily and become more investor-friendly while retaining the required regulatory oversight, it strengthens trust," he said.
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Genome Valley, he said, is a matter of national pride. It accounts for 33% of India's vaccine production and over 40% of bulk drug output, he said.
"Hyderabad has become the vaccine and bulk drug capital of the country. During the Covid-19 pandemic, Genome Valley played a key role in exporting vaccines across the globe," he noted, while thanking the entrepreneurs behind its success.
Govt attracted ₹3.2L crore in 18 months, says Revanth
ICHOR Biologics managing director Sudini Anand Reddy said the 1.75 lakh sq ft expansion will support the development of 11 new proteins over the next two years, making ICHOR a frontrunner in plasma-derived therapeutics.
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Revanth also said that Telangana attracted Rs 3.28 lakh crore in investments in the past 18 months and is positioning Hyderabad as the next big 'China Plus One' destination for global manufacturing. "Taiwan is currently playing that role, but there is now a spillover. Telangana is ready with policy, infrastructure and sectoral support to capture this opportunity," he said, urging Genome Valley to help attract more investments in pharma, electric vehicles, IT, and emerging sectors.
IT and industries minister D Sridhar Babu said Telangana's life sciences sector is recording a compound annual growth rate (CAGR) of 23%, compared to the national average of 14%, and contributes nearly 3% to the state's GSDP, double the national average.
He highlighted Hyderabad's emergence as a global life sciences cluster, alongside Boston, San Francisco, Cambridge and Tokyo. In 2024 alone, life sciences firms leased 2.4 million sq ft of office space in the city - up from 1.8 million sq ft in 2023.
To accelerate this momentum, Telangana plans to set up dedicated pharma villages along the Hyderabad-Nagpur and Hyderabad-Bengaluru corridors, he said. The state is also focusing on cell and gene therapy, AI-powered diagnostics, drug innovation, rare disease research, and green chemistry - aiming to become a global model for life sciences innovation, he added.
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