Hyderabad, Telangana: Telangana’s proactive government has signed MoUs with major pharma companies to attract investments of over ₹5,260 crore in the Green Pharma City. This move aligns with the state’s vision to boost the pharmaceutical sector while creating thousands of jobs and ensuring sustainable growth.
CM Revanth Reddy Leads Strategic Meeting
Chief Minister Enumula Revanth Reddy and Industries Minister Sridhar Babu hosted a pivotal meeting with representatives from six leading pharma companies at the state secretariat on November 22, 2024. The companies—MSN Labs, Laurus Labs, Gland Pharma, Dr. Reddy’s Laboratories, Aurobindo Pharma, and Hetero Labs—committed to establishing their operations in Green Pharma City.
Investment Highlights
- MSN Laboratories will set up a manufacturing unit and a state-of-the-art R&D center.
- Laurus Labs and Aurobindo Pharma will establish formulation units.
- Gland Pharma plans to build an R&D center, injectables unit, and drug substance manufacturing facility.
- Dr. Reddy’s Laboratories will focus on injectables and biosimilar units.
- Hetero Labs will launch facilities for finished doses and injectables.
Collectively, these projects are expected to generate over 12,490 jobs.
Government’s Support and Action Plan
The Telangana government has allocated land in Pharma City to facilitate rapid development. Chief Minister Revanth Reddy directed officials to provide all necessary infrastructure within four months. The government emphasized its commitment to creating an investor-friendly environment, ensuring timely approvals, and maintaining eco-friendly industrial practices.
Political Impact
This major development showcases Telangana’s strategic approach under the leadership of Revanth Reddy. By aligning policies with industry demands, the state aims to solidify its position as a global pharmaceutical hub. This initiative also highlights the government’s focus on job creation and sustainable industrialization, bolstering its political credibility ahead of the elections.
A Vision for Growth
Industries Minister Sridhar Babu reiterated the government’s resolve to foster innovation and growth in the pharmaceutical sector. He stated that these partnerships will not only enhance Telangana’s economic stature but also position it as a model for progressive governance.
Conclusion
Telangana’s move to attract large-scale pharma investments reflects the government’s dedication to sustainable development. As Green Pharma City evolves, it promises to be a benchmark for industrial growth and political foresight.
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