The fledgling state of telangana made baby steps like no one has before. Indeed, the change from baby steps to a full-fledged race down the route of growth from 2014 to 2023 astounded every other State, leaving several of the older States in the dust as the country's youngest State rose to the top in many sectors in record time.
Telangana established its supremacy in industries such as pharmaceuticals, military and aerospace, and life sciences, becoming the preferred investment location for the world's top companies. In reality, industry titans were delighted by Telangana's timeliness in granting approvals and assigning land through tailored, transparent rules, as highlighted by Foxconn chairman Young Liu, who lauded 'Telangana timeliness'."Telangana is really quick. This is crucial, particularly in the high-tech business. Speed is essential, and with it you can accomplish practically everything. There are no huge fish, only tiny ones. "Fast is the key," Liu stated after launching T-Works on march 2, last year.
"Telangana gave me confidence, and partnering with it has the potential to treble Foxconn's income. Without speed, it is impossible. "With Telangana's speed, it is possible," Liu noted.The spike was partly due to the continuous efforts of KT Rama Rao, the then-IT and industries Minister. His pitch for investments in telangana at global forums such as the World Economic Forum and international gatherings, as well as his tour of countries to secure deals with potential investors, prompted many from other states to ask on social media whether he was a politician or the CEO of a multinational conglomerate. His prompt response of sending a team and subsequently a chartered jet to transport Kitex Group chairman Sabu Jacob from kerala to hyderabad, which resulted in numerous transactions totaling around Rs.3,000 crore, demonstrated the then-Telangana government's unwavering dedication to developing the state's industry.Henry Fisker, CEO of American electric vehicle maker Fisker Inc, which will establish its indian headquarters in hyderabad in 2022, praised the telangana government, calling it pro-business, and stated in an interview that Rama Rao had met him in the united states and convinced him to invest here. Similar remarks were frequently used at the inaugural ceremonies and expansion launches of several worldwide majors, particularly in the pharmaceutical and life sciences industries.
Pharma sectorThe previous BRS administration intended to grow the biosciences ecosystem from a $50 billion to a $100 billion sector by 2025. To reach the US 80 billion dollar worth in 2022 was a significant accomplishment, as evidenced by the fact that no other state could equal Telangana's increase and pace in the life sciences industry. In response to the sector's significant growth, the government intended to boost the workforce from four lakhs to eight lakhs in the life sciences and associated sectors over the next five years.Similarly, plans were made to build an additional 20 lakh square feet of real estate space to Genome Valley in Shamshabad, in addition to the current almost 30 lakh square feet of built-up space. Vaccine production is expected to increase from nine billion to 14 billion doses, accounting for over half of all vaccines produced globally by 2024.
Telangana would have been
home to the world’s largest integrated pharma manufacturing cluster – Pharma City – but unfortunately, the project has been shelved by the new
congress government, which says it wants to develop 10 pharma villages to ensure “scattered growth”.
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