Telengana Govt. Plans to Double It’s Revenue from Pharma and Health-Tech Industry
The Telangana Government is planning to double the turnover from its rapidly growing pharmaceutical and medical technology industry.
According to Jayesh Ranjan, Principal Secretary of IT and industries, the government is looking to increase the revenues from these two sectors from USD 50 billion to USD 100 billion by 2030.
He also announced the state government’s partnership with Switzerland for 17th edition of the BioAsia Conclave, which will see 50 countries come together to share their ideas and experiences.
Switzerland, consistently ranked No.1 in innovation, is widely known for innovation in big pharma with the presence of eminent pharma and life-sciences companies like Novartis, Roche, Lonza, and Ferring Pharma.
The European country is looking to forge closer ties with India which has grown into a significant player in life-sciences industry globally and has now partnered with the most widely attended life-sciences convention BioAsia, as the country partner for the 17th edition.
Later in the day, the officials of Telangana government and Consulate General of Switzerland signed the partnership agreement in the presence of IT and Industries Minister K T Rama Rao. Speaking on the occasion, Rama Rao said, “Over the years, Telangana has strengthened its position in the life sciences industry and we are aiming made the State as one of the top life sciences hubs of the world”.
Meanwhile, Jayesh Ranjan said, “we have noticed that 70 to 80 percent of the companies who set up their stalls at the conclaves, companies who have already partnered with us previous conclaves, which means these companies do get something out of the conclave every time they come”.
“Additionally we have seen an increase in startups participation from 5 percent to 15 percent in just a couple of years, “he added.
Silvana Renggli-Frey, Deputy Consul General of Switzerland said, “Switzerland recognises India as a strategic partner in healthtech. Hyderabad being one of the prominent hubs in life-sciences and healthtech has been an attractive ecosystem for us to engage with.
As a country partner in BioAsia, we’re bringing a holistic representation of the Swiss healthtech ecosystem spanning from corporates to startups to academia to investors. We are eager to collaborate with the key players in India and pursue new solutions today, for tomorrow”.