Hyderabad Pharma City: Transforming the Pharmaceutical Landscape with Massive Investments and Global Interest
Telangana’s Proposed Pharma City: A Global Pharma Cluster to Attract $8 Billion Investments and Generate 500,000 Jobs
The Telangana Government’s ambitious project, the Hyderabad Pharma City (HPC), has been met with great enthusiasm by the pharmaceutical and life sciences industry.
A senior official from the Telangana State Industrial Infrastructure Corporation (TSIIC) revealed that a staggering number of 500 companies in the pharma and life sciences sector have expressed their keen interest in setting up their operations within Hyderabad city.
This overwhelming response serves as a testament to the immense potential and attractiveness of the Hyderabad Pharma City, solidifying its position as a sought-after destination for industry players.
The Hyderabad Pharma City project in Hyderabad is envisioned as the world’s largest integrated cluster specifically designed for pharmaceutical industries.
With a strong focus on research and development (R&D) and manufacturing, the project is anticipated to attract substantial investments totaling $10 billion. (Approx 820 crore plus)
Both domestic and international pharmaceutical giants have expressed their readiness to establish their units within the pharma city, which is strategically located approximately 25 km away from Shamshabad airport.
According to Telangana Industries Minister KT Rama Rao, the Pharma City project in Hyderabad, which is being hailed as the largest pharma cluster globally, is anticipated to attract investments exceeding $8 billion and generate more than 500,000 job opportunities.
This significant development comes as the state government faces the challenge of managing an abundance of opportunities in this sector.
The official further confirmed that the land acquisition process for the project has been successfully completed, paving the way for its development and implementation.
LEGAL HURDLE
However, despite the Government’s initial intentions to formally launch the project a few months ago, a minor portion of the acquired land became entangled in legal issues, which are currently under consideration by the High Court.
The senior official acknowledged that the matter is sub judice, and therefore, they cannot provide further details.
However, once the matter is resolved, the allocation of land within the Hyderabad Pharma City (HPC) for manufacturers will proceed promptly.
Government data indicates that the life sciences sector in Telangana experienced significant growth and investment.
In the fiscal year 2021-22, the sector attracted investments of ₹6,400 crore from 215 companies, marking a 200% increase compared to the previous fiscal year, where around 150 companies invested ₹2,766 crore.
The data for the fiscal year 2022-23 is yet to be released, but it is anticipated to provide further insights into the continued growth and attractiveness of the industry in Telangana.
