Life science gets a boost in Telangana

In a first of its kind, the Telangana government has taken lead to formulate a Life Sciences Policy by categorizing it as one of 14 priority industrial sectors encompassing biotechnology, bulk drugs, formulations, vaccines, nutraceuticals, biological, biosimilars, incubation centres, R&D facilities and medical devices to attract an investment of Rs.21,000 crore.

The Life sciences policy declared at the ongoing Bio-Asia conference in Hyderabad also tabled the government's varied measures to encourage new ventures, help propel existing units expand in and around Hyderabad. The policy unveiled by Industry Minister Jupally Krishna Rao at the inaugural function of Bio Asia 2015 aimed to consolidate its position as a preferred destination for the Biotechnology.

According to policy framework, the State government over the next five years is eyeing an export level of Rs.50,000 crore and creating direct employment to 50,000 people. Besides promoting the World Pharma Trade Centre in Hyderabad to promote exports, international trade and business development jointly by TSIIC and Pharmexcil.

The State government plans to set up a pharma city on 11,000 acres on the outskirts of Hyderabad, will support development of Life Sciences Park by private agencies also. An industrial park for medical devices will also be set up in Sultanpur, Medak district. The Genome Valley is also to be expanded by another 200 acres as Biotech Park Phase IV in Mulugu, in the same district.