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Time of India
16-07-2025
- Business
- Time of India
Telangana committed to growth, political changes won't matter, says CM Revanth Reddy
HYDERABAD: Chief minister A 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. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Gorgeous Women, Ranked BigGlobalTravel Undo 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.
The Hindu
21-05-2025
- Business
- The Hindu
Kerala setting a new benchmark for investment promotion, project implementation: Rajeeve
Four projects for which expression of interests (EOIs) have been received at the Invest Kerala Global Summit (IKGS) in Kochi this February commenced in April. The projects have a total outlay of ₹1,211 crore. Meanwhile, foundation stone will be laid this month for eight projects coming up at an investment of ₹2,675 crore. The four projects have the potential to generate 3,050 jobs. As many as 8,800 jobs will be created by the eight projects. Disclosing this at a press conference here on Wednesday, Minister for Industries P. Rajeeve said this affirmed Kerala's standing as a premier investment destination with increased investor trust in the government. He said another five projects, with an outlay of over ₹1,000 crore and the potential to generate 2,400 jobs, were slated to begin in June. 'By combining transparent digital tools, decentralised execution, and policy reform, Kerala is setting a new benchmark for investment promotion and project implementation in the country,' he said. Among the major proposals that came up at the IKGS, the Genome Valley at Life Sciences Park with an investment of ₹3,800 crore in Thiruvananthapuram will commence construction shortly while Unity Mall in Thiruvananthapuram will be inaugurated in November, the Minister said. A dedicated advisory group, chaired by the Minister, has been formed for monitoring project implementation, coordinating across departments and resolving issues. A policy reform meeting chaired by the Chief Minister is scheduled for June. The meeting will address the procedural and policy bottlenecks that affect investment implementation and focus on improving the overall ease of doing business. A portal, has been launched to create a database of land available in the State for industrial purposes, the Minister said. The portal will function like a matchmaking website where those who have land available for industrial purposes can list information, Mr. Rajeeve said. Another portal, developed by the Kerala State Industrial Development Corporation, will provide investors and departments updates and information about each proposal's implementation status. It also features a monthly progress report to ensure transparency and stakeholder accountability. Around 450 EOIs have been received at the IKGS, for which over 370 project-level meetings have been conducted so far, and updated status reports and photographs have been uploaded on the dashboard of the IKGS portal.
