Life Science industry in Telangana to reach USD 100B by 2030

Telangana IT and Industry Minister K T Rama Rao on Wednesday hopped that that the Life Science industry will reach USD 100 billion by 2030.

Speaking after inaugurating seven Life Science factories— Promea Therapeutics, Marriage Life Sciences, Akriti Oculoplasty, Arka Engineers, SVP Techno Engineers, Elvikon and Rees Medilife– in Medical Device Park, Sultanpur in Sangareddy district, Mr Rao said that the factories which constructed with the investment of Rs 265 crore would provide 1300 employments.

The Minister said that the land in Medical Device Park was allocated to 50 companies with an investment potential of Rs 1424 crore and the employment of 7000 people as direct and 10,000 people as indirect. Of them seven companies have inaugurated their units today.

Congratulating the authorities of Seven Life Science factories, Mr Rao expressed happiness over the investments in the Medical Device Park which was launched four years back. This was an important foot step to achieve the Life Science industry to USD 100 billion markby 2030, he said.

Stating that Hyderabad is the Centre for Medtech innovations, the Minister said it was necessary to encourage new innovations and investments in the state.

He said that Medtranic, a medical device company, has started its production. It is also trying to create “My Care Link App” to treat the patients. With this APP it is possible to take care of 40,000 patients at a time, Mr Rama Rao added. United News of India