Immense scope for industrial growth in Telangana, says Governor

BioAsia 2017, which got under way here on Monday with Governor ESL Narasimhan inaugurating the annual event, was witness to announcement of projects worth ₹3,382 crore.

Genome Valley Excellence Award 2017 was awarded to Nobel Laureate Kurt Wuthrichand and Paul Stoffels, Worldwide Chairman of Pharmaceuticals and Chief Scientific Officer of Johnson & Johnson, on the occasion.

The 14th edition of BioAsia with the theme ‘Power of the Past, Force of the Future’, is expected to witness participation of delegates from healthcare, biotech, pharma, life sciences, IT, academia and start-ups.

Narasimhan said, “Telangana has emerged a leader in the life-sciences sector and has immense scope for further industrial growth. Since 2014, BioAsia as a platform has been instrumental for the state government to invite the global investors and business leaders, showcase the extraordinary infrastructure available in the state and attract investments. Over 200 MoUs and about 14,000 crore investments have been announced at BioAsia. The event has also brought together leaders from over 89 countries in Hyderabad.”

Earlier, State Industry and IT Minister KT Rama Rao inaugurated MN Park’s iHub Phase II and SME Hub@IKP and unveiled building plans of the country’s largest animal resource facility being set up by the Centre in partnership with Telangana.

MoU for infra fund
During the event, an MoU was executed with Cerestra to explore a Life Sciences Infrastructure Fund of ₹1,000 crore to create modular plug-and-play infrastructure for pharma, biotech and medical devices industry.

The MN Park’s iHub Phase-II initiative with 2 million sq ft of Lab Space for R&D companies and start-ups was inaugurated with an investment of ₹1,000 crore. Allotment letters for about six companies have been given today with a cumulative investment of ₹702 crore.

Source: The Hindu

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