Agreements Of 35,820 Cr In 10 Months: Sridhar Babu

Telangana IT and Industries Minister Duddilla Sridhar Babu today claimed that the government had signed agreements for investments worth Rs 35,820 crore in the past ten months, with the potential to create 51,000 jobs.

Speaking at a press conference, Babu mentioned remarkable achievements in the life sciences and pharmaceutical sectors, where significant investments were attracted even before the government completed its first year.

He claimed that 141 domestic and multinational companies had started operations in pharmaceuticals, vaccines, life sciences and research.

"Telangana is now a hub for new pharmaceutical and life sciences companies in India, with plans to establish pharma clusters in multiple locations rather than in just a single centre," the minister said.

He also specifically mentioned some investments. He said that Japan's Takeda Life Sciences, in partnership with Hyderabad-based Biological E, was set to produce 50 million doses of dengue vaccines annually for global distribution. Zoetis, the world's largest animal healthcare company, had launched a Global Capability Center (GCC) in Hyderabad, he added. And Amgen, the world's leading biotechnology company, had also recently inaugurated its GCC, which would employ 3,000 professionals, he claimed.

He credited Chief Minister Revanth Reddy's US visit for facilitating these agreements, leading to the rapid establishment of these GCCs by Zoetis and Amgen.

Sridhar Babu added that in the coming two months the CM would announce a policy focused on making land allocations and offering incentives for companies willing to establish operations in Telangana, particularly in the life sciences sector. He claimed that no other Indian State had yet formulated a comparable policy.

He also said that the government remained undeterred by opposition provocations, and would conduct land acquisition for pharma clusters transparently, after meeting public demands and gaining community consent. He encouraged farmers to approach officials with any grievances related to the land acquisition.

IT and Industries Principal Secretary Jayesh Ranjan, Director of the Life Sciences department Shakthi Nagappan and TSIIC CEO Madhusudan were present at the conference.