Hyderabad: Pharma City, the largest pharmaceutical cluster in the world, will be launched shortly here, said Telangana Minister for IT and Industries K T Rama Rao (KTR) on Saturday.
All the necessary clearances and permissions are received for the pharma city, which will come on the 19,000-acre project, will help the pharma companies, KTR said while speaking at the CII Southern Regional Council meeting.
While Prime Minister Narender Modi had called politicians from across the country two years ago to take feedback on what needs to be done to put India on a growth highway, the Telangana government suggested a 3I mantra- innovation, infrastructure, and inclusivity, he said.
The state which followed this mantra has achieved good results, he claimed and said that the State’s industrial policy TS-iPASS was one such innovation.
So far, about 20,000 industrial proposals have been approved in the past eight years based on self-certifications from the companies and this translated into investments worth $ 35 billion (about Rs 2.83 lakh crore) and direct employment to about 16 lakh people, the Minister said.
Telangana is now home to the largest incubator, T-Hub, and also to India’s largest prototyping center, T-Works. It has set up other bodies like the TSIC, RICH, WE-Hub, and others, he informed.
The per capita income of the State eight years ago was Rs 1.24 lakh and that has now grown to Rs 2.78 lakh, the highest in the country similarly, the GSDP of Telangana was Rs 5.05 lakh crore in 2014 and now it has grown to Rs 11.55 lakh crore, he said.
If all regions were to see similar growth like Telangana, the country would have crossed $ 6 trillion in the economy but it is still pegged at $ 3.1 trillion economy, he added.