State emerging leader in life sciences; Vision 2030 action plan soon: KTR

State emerging leader in life sciences; Vision 2030 action plan soon: KTR
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Telangana State has been emerging as a leader in the life sciences sector and the new State has an immense scope for further industrial growth. The State government was contemplating a Vision 2030 Action Plan to boost the life sciences sector in the State.

IT & Industries Minister KT Rama Rao met with the representatives of Telangana Life Sciences Advisory Committee here on Wednesday. The minister discussed investment opportunities and action plan to boost life sciences sector in the State. KTR said the State government aims to attract investments to the State and at the same time gives priority to the existing ones. The government was also planning to set up an Investment Promotion body, which will closely work with the investors. KTR said the State government has recognized life sciences as a thrust area and was giving top priority to research and innovation in pharma sector.

The minister said Genome Valley, Hyderabad Pharma City and Medical Devices Park together make Hyderabad a unique destination for global life sciences industry. In order to strengthen the sector, the State government will also set up an incubator similar to T-Hub at Genome Valley. The proposed incubator will help in research and innovation in life sciences sector. He also said the State government was working on strengthening the life sciences ecosystem in the State and will be exploring opportunities in the fields of digital medicine and artificial intelligence.

Research & Innovation Circle of Hyderabad (RICH) will coordinate between Pharma companies, educational institutions and research institutions like CCMB to strengthen the research work. KTR informed the advisory committee members that he would seek sanction of a special fund in the upcoming budget to help the start-ups in life sciences sector. (NSS)