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Life sciences to be a USD 100 bn industry in T’gana
Buoyed by the tremendous growth in the life sciences industry in Telangana amidst the pandemic over the last one year, the state government has set the vision to growing the sector to $100 billion dollars by 2030.
“Our dream and vision of growing the life sciences industry to over $100 billion looks plausible and we remain committed to it,” state’s industry minister KT Rama Rao told Bio Asia 2021, the annual flagship event which began here on Monday.
The life sciences sector in Telangana in terms of value is $13 billion while in terms of cluster revenues it is $50 billion. The potential for next 10 years is to move up to $100 billion of ecosystem valuation, said Dr Satish Reddy, Chairman, Reddy’s Laboratories, who heads the advisory committee constituted by the state government to prepare vision 2030 for the sector.
Referring to manufacturing of vaccines for Covid-19 in Hyderabad, Rama Rao said Hyderabad’s position as the “vaccine capital of the world” was further bolstered.