Telangana targets $250 bn life sciences ecosystem by 2030: Minister KTR
Aiming to position Hyderabad as the "Health-Tech Mecca" of the world, Telangana Minister for IT and Industries K T Rama Rao on Friday said the government targets to triple the life sciences sector ecosystem in the state to USD 250 billion by 2030 from the existing USD 80 billion.
Speaking at the 20th Edition of BioAsia 2023, a three-day life sciences conclave which began here today, KTR said the state is home to over 1,000 life sciences companies globally, including the top 10 pharma firms, in their innovation journey.
He said the ecosystem value has already touched USD 80 billion in 2022 which represents a phenomenal ecosystem value growth in Telangana at a mind-boggling 23 per cent over the last two years compared to the national average of about 14 per cent.
"We have a unique opportunity to help reshape the future of the life sciences industry. We need to dream big. I envision that by 2030, the value of the life sciences ecosystem will cross USD 250 billion," he said.
He further