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Business EconomyPosted at: Aug 5 2020 6:09PM


Telangana Govt’s vision is to see Life Sciences Industry grow to USD 100 Bn in this decade : Minister

Hyderabad, Aug 5 (UNI) Telangana Minister for IT and Industries K T Rama Rao on Wednesday said that the government's vision is to see that the Life Sciences industry grew from USD 50 Bn to USD 100 Bn and creating 400,000 new jobs in this decade.
Mr Rao, who chaired the first meeting of the reconstituted Telangana Life sciences advisory committee here, requested the committee to play a pivotal role in advising the government on the initiatives that can help consolidate Hyderabad’s leadership position in life sciences, a release said here.
Briefing on the efforts already undertaken by the State Government to strengthen the sector, he said the members brainstormed and deliberated on different areas such as industry-academia collaboration, strengthening public health infrastructure, development of Genome Valley with focus on innovation, funding to start-ups, skill development, pharma services driven ecosystem, diagnostics and digital medicine.
The reconstituted committee consists of officials from industries department, leaders from industry and research institutes covering Pharmaceuticals, Biotechnology, Medical Devices, Digital Health, the Minister added.
Telangana Government has reconstituted the life sciences advisory committee with members of industry and academia with a term of two years.
Dr. Reddy’s Laboratories Chairman Satish Reddy will be the Chairman, Biological E Managing Director Ms Mahima Datla will serve as Vice-Chairman and Telangana government Life Sciences Director will be Convener for the committee.
The objective of the Life Sciences advisory committee is to serve a structured interface between Government, Industry and Academia.
The first committee was formed in the year 2016 under the Chairmanship of Prof. D. Balasubramian, Director Emeritus (Research), LV Prasad Eye Institute and Mr Satish Reddy as the Vice Chairman.
The committee advised the Government on aspects like improving Ease of Doing Business(EoDB) specific to the life sciences sector at various state level agencies, which were successfully implemented.
Further, the committee supported the planning of Hyderabad Pharma City, organization of BioAsia-State’s flagship event and various other initiatives.
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