Hyderabad, June 23 (SocialNews.XYZ) The Rs 45,848 crore investment projects that could create 83,000 jobs are in the pipeline in Telangana, according to the state government.
The projects are proposed in several sectors, like information technology, automotive, textiles, electronics, life sciences, construction components and food processing.
According to the Industries and Commerce Department's annual report for 2019-20, released here on Tuesday, the industrial policy TS-iPass in the last five years helped the state attract Rs 1,96,404 crore investment and create 13.90 lakh jobs.
The report, released by Minister for Industries and Information Technology K.T. Rama Rao, said 75 per cent of approved industries (9,021 of 12,021) had started operations.
Quoting global real estate firm Knight Frank, it said Hyderabad topped the country's office space market in the second half of 2019 with 8.9 million sq feet transactions against 7 million sq feet in Bengaluru.
Hyderabad continued to dominate as a major hub for life sciences in Asia and as a destination of choice for global companies, contributing over 35 per cent to national pharma production, it said.
With over 800 pharma, biotech and medical technology companies, Telangana has combined enterprise value of $50 billion. The government plans to grow it to $100 billion and create 4 lakh jobs in this decade.
Novartis launched Biome India, a digital innovation hub in Hyderabad, the fourth global facility for the company after San Francisco, Paris and London.
Sahajanand Medical Technologies (SMT) laid the foundation stone for its largest stent manufacturing facility in Asia with Rs 250 crore investment at 20 acres campus in the Medical Devices Park. It will produce around 1.2 million stents and 2 million catheters at full capacity and provide 1,500 jobs.
Genome Valley houses 200 global and national companies with a workforce of 10,000. The key companies added to the cluster in 2019-20 included Sandoz, Syngene, TCI chemicals, Yapan Bio, Vallark Pharma, Sambi Pharma, MAB Tree Biologics, Ritvis Labs and Pheromones.
The central government has granted it the National Investment and Manufacturing Zone status. Master-planning and infrastructure planning are complete and the consent for establishment has been accorded to the project by the TS Pollution Control Board.
Around 25 companies are in the process of setting up R&D and manufacturing facilities in the Medical Devices Park. They included SMT, Promea Therapeutics, Arka Medical Devices and Virchow Biotech.
The state government has secured an in-principle approval from the Department of Pharmaceuticals for development of a biocompatibility testing centre.
Telangana received the best state award for the aerospace sector from the Ministry of Civil Aviation for achievements during 2019-20.
GMR Hyderabad International Airport is the third fastest growing airport in the world in terms of passenger growth, handling 15 million passengers a year, and the second fastest growing airport in India.
NOVA Integrated Systems, a defence subsidiary of Tata Advanced Systems, is bringing 5 new defence projects to Hyderabad, creating direct employment for 600. GMR is developing a Rs 350 crore business park at 2.4 lakh sq feet commercial area in Shamshabad.
Airbus Bizlabs, GMR Airport and the state government have signed an MoU to collaborate for testing and deploying sustainable solutions for airports and the civil aviation sector.
Operations started at seven integrated cold chain projects and one mega food park with Rs 300 crore investment. Major food processing projects are under implementation with Rs 3,000 crore investment.
The government is developing a 60-acre apparel park at Sircilla to boost Sircilla powerloom industry and to encourage value addition by converting fabrics into garments. Leading garment manufacturers, like Texport Industries and Gokaldas Images, are at advanced stage of discussion for setting up units in the park.
It is also developing a 88-acre weaving park at Sircilla. The work is on to build 50 industrial sheds to house 4,416 power looms and 60 warping machinery and other facilities.
Youngone Corporation signed final agreement with the state government to set up 8 manufacturing units at the Kakatiya Mega Textiles Park in Warangal with an investment of Rs 960 crore, creating 12,000 jobs.
Source: IANS
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