The 19th Centre of the World Economic Forum’s Fourth Industrial Revolution Network (4IR) will be set up in Hyderabad.

A decision to this was taken at the ongoing World Economic Forum’s annual conference in Davos in a meeting of Chief Minister A Revanth Reddy with the President and representatives of the Forum, State Government said in a release on Tuesday. 

The proposed centre will also be the first centre with a focus on health tech and life sciences and will act as a ‘Life Sciences’ Hot Spot’ in the entire Asia. The not-for-profit, autonomous center is expected to take lead in formulation of policies pertaining to healthcare and their implementation, according to the release. 

Nearly half of the professionals in Telangana are working in the areas of pharma, life sciences and medical technology and the establishment of 4IR will further boost employment opportunities and investments in the State, the State Government said.