21st edition of BioAsia to begin on Tuesday in Hyderabad

Telangana has consolidated its position as an ideal destination for life sciences with many top global companies setting up their units here with BioAsia playing a crucial role.

Hyderabad: The 21st edition of BioAsia 2024, which over the years has emerged as the marquee life sciences event across the globe, will begin in the city from Tuesday.

Telangana has consolidated its position as an ideal destination for life sciences with many top global companies setting up their units here with BioAsia playing a crucial role. In the last two years, the life sciences sector in Telangana has grown rapidly registering a 23 percent growth rate against the national average of 14 percent.

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Telangana has already outperformed its own pace in the life sciences sector. In the past, the State government had set a target of making the life sciences sector in the State valued at a US$ 100 billion industry by 2030 with the sector currently being valued at US$80 billion.

The target is likely to be achieved by 2025, five years in advance.

Buoyed with the rapid growth of the sector, the State government had even revised the target to reach an economy of US$ 250 billion by 2030, Principal Secretary (IT and Industries) Jayesh Ranjan said.

All this was achieved through long term plans and vision of the State government. Hyderabad now serves more than 1,000 life sciences companies globally in their innovations.

Genome Valley, Shamirpet is the epicentre of the life sciences activities in the State. Nearly, two million sft of lab space was added during the last three years at Genome Valley, which houses the largest concentration of international standard multi-tenanted facility in the country.

This apart, expansion of Genome Valley is underway. 2.5 million Sft multi-tenanted facility would be added in the days to come, he added. The State government intends to expand by another 250 acres and already, 132 acres was acquired under Genome Valley 2.0 project.

To ensure availability of skilled manpower, the State government in the past had planned to set up Life Sciences University in partnership with King’s College London to deliver master’s programme starting next academic year. Similar pact was also explored with other institutes as well.

Regarding the 21st BioAsia event, Jayesh Ranjan said the government would outline its priorities on extending support to the life sciences sector.