The Telangana Government has announced plans for an expansion of the Genome Valley project in Hyderabad with an investment of ₹2,000 crore.
At the inauguration of the BioAsia 2024 meet in Hyderabad on Tuesday, Telangana Chief Minister A Revanth Reddy announced that the Government would promote a 300-acre second phase for the project.
Set up 25 years ago, the Genome Valley project houses over 200 companies across the life sciences R&D, clean manufacturing, incubators, and multi-tenanted dry and wet laboratories segments. More than 15,000 employees work here for top firms such as Novartis, GlaxoSmithKline, DuPont, Bharat Biotech and Lonza.
The Chief Minister also said that the State Government would promote 10 ‘pharma villages’ capable of generating over 5 lakh jobs.
Industries and IT Minister D Sreedhar Babu said the Government would come out with a new Life Sciences Policy, which would be a fusion of life sciences, pharma, policy and regulation. “We are going to release the policy in the next few months,” he said.
He said the Government would also set up skill universities to create trained manpower for various industries.