Latest news with #ICHORBiologics
Time of India
4 days ago
- Business
- Time of India
Telangana committed to growth, political changes won't matter, says CM Revanth Reddy
HYDERABAD: Chief minister A Revanth Reddy on Tuesday said that Telangana remains committed to industrial growth, regardless of political transitions, and is now working to introduce globally competitive, futuristic policies to attract investments across sectors. The Congress govt, he said, is focused on transforming Telangana into a $3 trillion economy by 2047. Speaking after laying the foundation stone for ICHOR Biologics 2.0 expansion unit at Genome Valley, the CM said continuity and consistency in industrial policy boost investor confidence. "When policies do not change arbitrarily and become more investor-friendly while retaining the required regulatory oversight, it strengthens trust," he said. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Genome Valley, he said, is a matter of national pride. It accounts for 33% of India's vaccine production and over 40% of bulk drug output, he said. "Hyderabad has become the vaccine and bulk drug capital of the country. During the Covid-19 pandemic, Genome Valley played a key role in exporting vaccines across the globe," he noted, while thanking the entrepreneurs behind its success. Govt attracted ₹3.2L crore in 18 months, says Revanth ICHOR Biologics managing director Sudini Anand Reddy said the 1.75 lakh sq ft expansion will support the development of 11 new proteins over the next two years, making ICHOR a frontrunner in plasma-derived therapeutics. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Gorgeous Women, Ranked BigGlobalTravel Undo Revanth also said that Telangana attracted Rs 3.28 lakh crore in investments in the past 18 months and is positioning Hyderabad as the next big 'China Plus One' destination for global manufacturing. "Taiwan is currently playing that role, but there is now a spillover. Telangana is ready with policy, infrastructure and sectoral support to capture this opportunity," he said, urging Genome Valley to help attract more investments in pharma, electric vehicles, IT, and emerging sectors. IT and industries minister D Sridhar Babu said Telangana's life sciences sector is recording a compound annual growth rate (CAGR) of 23%, compared to the national average of 14%, and contributes nearly 3% to the state's GSDP, double the national average. He highlighted Hyderabad's emergence as a global life sciences cluster, alongside Boston, San Francisco, Cambridge and Tokyo. In 2024 alone, life sciences firms leased 2.4 million sq ft of office space in the city - up from 1.8 million sq ft in 2023. To accelerate this momentum, Telangana plans to set up dedicated pharma villages along the Hyderabad-Nagpur and Hyderabad-Bengaluru corridors, he said. The state is also focusing on cell and gene therapy, AI-powered diagnostics, drug innovation, rare disease research, and green chemistry - aiming to become a global model for life sciences innovation, he added.
New Indian Express
4 days ago
- Business
- New Indian Express
Telangana attracted Rs 3.28L crore investments in 18 months: CM Revanth Reddy
HYDERABAD: Chief Minister A Revanth Reddy on Tuesday said that the state government intends to adopt a 'China Plus One' strategy to attract more investments to Telangana and Hyderabad. He said: 'We want to create a 'China Plus One' destination. After the Covid pandemic, the entire world is searching for 'China Plus One' countries. They want to shift their investments and manufacture their products at other places. Now Taiwan is the place, but it will be only after us. Everyone is focusing on China Plus One. Most of the investors are looking towards India, but my point is to create an alternative China Plus One in Hyderabad and Telangana.' Addressing the gathering after laying the foundation stone for a new facility of ICHOR Biologics in Genome Valley in Hyderabad, the chief minister said that the government aimed to reach a $1 trillion economy by 2035 and a $3 trillion economy by 2047. 'Telangana Rising - 2047 will be unveiled on December 9, 2025. Our target is to reach a $3 trillion economy by 2047. The Centre targeted a $30 trillion economy by 2047. We want to contribute 10 per cent to the Indian economy,' he said. Stating that 33 per cent of the vaccines and 40 per cent of bulk drugs in India are being produced in Genome Valley here, Revanth said that during the Covid-19 pandemic, Hyderabad had provided vaccines to about 100 countries. He said that though the parties and governments have changed, the policies have been continuing since 1994. After the Congress came to power, we did not change the policies, incentives and permissions for the industries in the state. He said that the government has attracted `3.28 lakh crore investments in the last 18 months. 'Hyderabad is a place for data centres and tops in GCCs. Telangana is far better in attracting biopharma and other industries in the country compared to any other state. We want to compete with the world, not with states like Maharashtra, Andhra Pradesh, Karnataka and others,' the chief minister said. IT & Industries Minister D Sridhar Babu, Labour Minister G Vivek Venkatswamy, ICHOR Biologics Managing Director Sudini Anand Reddy and others were present at the ceremony.
