HYDERABAD: The State aims to become one of the top Life Sciences clusters in Asia and a leading one in the world by 2030, IT and Industries Minister KT Rama Rao said on Tuesday. A report ‘Telangana Life Sciences: Vision 2030’ was released by the State government-formed Life Sciences Advisory Committee which was established to brainstorm on ideas and identify opportunities for the State in this sector.
Rama Rao said, “Our vision is to become one of the top Life Sciences clusters in Asia and a leading cluster in the world by 2030. The report prepared by the Life Sciences Committee will give us strategic direction in achieving this vision.”
Satish Reddy, the chairman of the Life Sciences Advisory Committee of the State government said that the committee will be working closely with the State government to achieve its vision. “The State of Telangana has the advantage of skilled manpower, strong technical capabilities and a high-quality infrastructure with a proactive government which will give it the thrust in realising the vision.”
The report said that the current growth rate of Telangana’s Life Sciences industry, was maintained till 2030, it can lead to a 3x increase in current size. However, to realize the vision of $50 billion in cluster revenue, the sector would need to boost its current growth level of around 12 pc/annum to an average of 15 pc/annum.
The report also said that Telangana has to make its mark as a innovation hub besides being a life sciences manufacturing hub. It cited the example of China who released 19 Class 1.1 new drugs in the domestic market.
“Likewise, Telangana could look at attracting not just manufacturing facilities, but also the R&D wings of leading pharmaceutical, bio-pharmaceutical and medical devices companies. The sector could also aim to realise the commercialisation of at least one billion-dollar molecule or drug internationally to showcase the State’s innovative prowess.”