Posted: Date Posted – 7:00 PM, Sat – Nov 12, 22
Hyderabad: Pharma City, the largest pharmaceutical cluster in the world in the making, has received all the required authorizations and is preparing to be launched soon. Work on the 19,000-acre project, which will help pharmaceutical companies achieve economies of scale, is progressing rapidly, IT and Industry Minister KT Rama Rao said on Saturday.
Speaking at the CII Southern Regional Council meeting, he said Telangana has made rapid progress in all sectors and will continue to maintain the growth momentum even as it tries to explore untapped areas.
Prime Minister Narender Modi had called politicians across the country two years ago to seek their feedback on what needs to be done to put India on a growth highway. “Telangana suggested the 3I mantra – innovation, infrastructure and inclusiveness. The state followed that and the results were very encouraging,” he said.
Innovation was not just a technology topic. This could also happen in governance, he said, adding that the state industrial policy TS-iPASS was one such innovation. Good practices in some markets were studied before announcing this and this announced a one stop shop system for industries and approvals are given within 15 days. Proposals get deemed approval on the 16th day if there is no valid reason for delay. It also planned to fine the officials responsible for the delay and also to match or exceed the incentives offered by other states.
So far, about 20,000 industry proposals have been approved over the past eight years based on self-certifications from companies, resulting in investments worth $35 billion (about Rs 2 .83 lakh crore) and direct employment for about 16 lakh people. The state is also focusing on reducing the cost of doing business for industries. Industries that have land can immediately begin construction of their units without multiple department approvals. However, details of investment, job creation and other details as well as self-certification must be provided online.
Telangana is now home to the largest incubator, T-Hub, as well as India’s largest prototyping center, T-Works. He set up other organizations like TSIC, RICH, WE-Hub and others.
The state is focused on creating an enabling infrastructure with the aim of ensuring that development happens across Telangana and not just around Hyderabad. Indian companies have huge potential to tap into as many players seek a China Plus One model for their post-pandemic operations. This approach will ensure that activities will not be interrupted in the future.
The final pillar is inclusiveness or making everyone partners in growth. The state’s per capita income for eight years was Rs 1.24 lakh and it has now risen to Rs 2.78 lakh, the highest in the country. Telangana’s GSDP was Rs 5.05 lakh crore in 2014 and now it has risen to Rs 11.55 lakh crore. If all regions were to experience similar growth as Telangana, the country would have crossed the $6 trillion economy. However, it is still pegged to a $3.1 trillion economy, he said.
Hyderabad now accounted for around a third of the vaccines produced globally. With various expansions planned by several entities, vaccine capacity will increase from the current nine billion doses to 14 billion doses, which represents approximately 50% of total vaccine production capacity, within a few years. He highlighted the good work done to promote the life sciences sector by his predecessors.
The digital revolution is gaining momentum and the industry cannot miss this Industry 4.0 opportunity.
Therefore, Telangana is driving innovations through institutional set-up because today’s start-up is tomorrow’s multinational, Rama Rao said.
Tech giant Amazon has its largest campus at 3.1 million square feet in Hyderabad. Several big names like Apple, Google, Uber, Salesforce, Qualcomm, Novartis and several others are widely present in Hyderabad. IT exports hit Rs 1.83 lakh crore, up from Rs 57,000 crore eight years ago. The fact that Hyderabad has overtaken Bengaluru in terms of office space absorption for four quarters is a testament to the dynamic nature of the city. Bengaluru, on the other hand, was growing due to the inertia effect of its early start, he said.
He said Hyderabad is doing well compared to other metros in terms of traffic, climate, pollution and other parameters. The state has focused on completing the Kaleshwaram project, the largest lift irrigation project in the world. This spawns five revolutions – the green (food grains), blue (peach), white (milk), pink (meat) and yellow (edible oils) revolutions. Southern states account for about 35% of GDP, the minister said. .
Former CJI Justice NV Ramana was present. Suchitra Ella, President, CII Southern Region and Mr. Kamal Bali, Vice President, appreciated the efforts of the Government of Telangana to make the state one of the best states in the country in terms of infrastructure development and investment attraction.