HYDERABAD: Ever since the launch of Telangana State Industrial Project and Self-Certification System (TS-iPASS) in 2015, the State government has approved around 700 investment proposals which has created the possibility of 70,000 jobs, including 20,000 in high-value research and 50,000 in Pharma sector. Of the 700 proposals, works have already started on 80 per cent of them, an official release said on Sunday.
In the past four years, the State government has attracted investments worth Rs10,222 crore, of which Rs 3,000 crore is from the Research and Development division.
Going by the trend, Pharma and Life Sciences sector is surging ahead in the State. Apart from attracting new investments, the State has improved its Pharma export market. Notably, the Life Sciences contributed a lion’s share of 36 per cent of exports from the State.
Information Technology and Industries minister KT Rama Rao attributed the success in the two sectors to the State government’s policies. Apart from the companies which are prominent across the world - Ferring Pharmaceuticals, Chemo India Formulations R&D and manufacturing facility, GSK, Syngene, Slayback Pharma, Johnson & Johnson - establishing units in Telangana, regional companies have also announced their expansion plans.
Rao said that their aim is to increase the Pharma sector valuation to 100 billion dollars, attract maximum amount of investments and provide job for youth here. Also, steps are being taken to impart training in skills required to work at the companies, said Rao. For instance, to build skills of graduates in Pharma sector, the State government has partnered with US Pharmacopeia.