Contributing 25% of India’s MedTech production, Kerala eyes major investments

Kerala is poised for significant growth in the life sciences sector, aiming to establish itself as a hub for medical device manufacturing, biotechnology, Ayurveda, and agri-technology, KSIDC said on Monday.

The recent BioConnect 2.0 event, held in Thiruvananthapuram, brought together industry leaders and experts, with many evincing strong interest in investment in Kerala’s growing life sciences ecosystem, the Kerala State Industrial Development Corporation (KSIDC) said.

The Executive Director of KSIDC, Harikrishnan R said around 35 industrialists who visited the Bio 360 Life Sciences Park have shown keen interest in investing.

“They were particularly impressed with the facilities available at the park. We anticipate more investments in Kerala as a result of this initiative,” he said in a release issued by KSIDC.

The establishment of Life Sciences Industrial Parks, overseen by the newly formed Kerala Life Sciences Industries Park (KLIP), is designed to foster innovation and attract research and development projects across the state.

“BioConnect 2.0 became a vital networking platform for business leaders across various sectors, not just limited to medical devices. There were discussions on opportunities in Ayurveda, spices, Agri-biotechnology, and more.

“The event saw participation from around 400 delegates from across the globe, including the USA and UK, making the sessions highly productive,” K S Praveen, the CEO of KLIP said.

The KSIDC said beyond the existing 250-acre Bio 360 Life Sciences Park in Thiruvananthapuram, the state plans to establish additional parks to boost research and commercialization in biotechnology and medical devices.

“Kerala already contributes around 25 per cent of India’s medical equipment production, with plans to double that figure in the coming years,” the release said. PTI