Last Updated on July 4, 2023 by The Health Master
Hyderabad Pharma City
With its focus on research and development (R&D) and manufacturing, Hyderabad Pharma City aims to become the world’s largest integrated cluster for pharmaceutical industries.
This article explores the enthusiastic response from both domestic and global pharma majors, the current status of the project, and its potential for attracting substantial investments.
Unparalleled Industry Interest:
According to a senior official from the Telangana State Industrial Infrastructure Corporation (TSIIC), around 500 pharma and life sciences companies have expressed keen interest in establishing their facilities within the upcoming Hyderabad Pharma City.
This overwhelming response demonstrates the industry’s confidence in the project and its potential for growth and development.
A Global Hub for Pharma Majors:
Hyderabad Pharma City, strategically located approximately 25 km from Shamshabad airport, has successfully attracted the attention of both domestic and global pharma majors.
Industry leaders across the globe are eager to set up their manufacturing units in this future pharmaceutical hub.
The completion of land acquisition for the project paves the way for these companies to begin their operations in Hyderabad Pharma City.
Challenges and Resolutions:
Although the government had initially planned to launch the project a few months ago, a legal issue emerged concerning a small portion of the acquired land.
Currently, the matter is pending before the High Court. The official refrained from providing further details due to the subjudice status.
However, it was assured that once the issue is resolved, the land allotment process for manufacturers will commence promptly.
Impressive Investment Growth:
Telangana’s life sciences sector has experienced remarkable investment growth in recent years. As per government data, the industry attracted an investment of ₹6,400 crore from 215 companies during the financial year 2021-22.
This figure represents a significant 200% increase compared to the ₹2,766 crore invested by approximately 150 companies in the previous fiscal year, FY21. The
investment data for FY23 is yet to be released, further highlighting the sector’s continuous expansion.
The project’s potential to become the world’s largest integrated cluster, coupled with the enthusiastic response from domestic and global pharma majors, signifies the positive trajectory of the initiative.
Despite the temporary setback caused by a legal issue, the government remains committed to resolving the matter and moving forward with land allotment for manufacturers.
For informative videos by The Health Master, click on the below YouTube icon:
For informative videos on Medical Store / Pharmacy, click on the below YouTube icon:
For informative videos on the news regarding Pharma / Medical Devices / Cosmetics / Homoeopathy etc., click on the below YouTube icon:
For informative videos on consumer awareness, click on the below YouTube icon: