India’s strength lies in its youth: KTR

Says life sciences sector in Hyderabad will be $100 billion sector by 2028

Hyderabad: Industries Minister KT Rama Rao said efforts were on to enhance the life sciences ecosystem in Hyderabad from 50 billion dollar to 100 billion dollar sector by 2028.

Participating in a Fireside Chat with IIIT students in the city on Friday, the Minister said the largest number of US FDA approved manufacturing units in a single State in the world were in Telangana. While, there were 214 in Telangana, New Jersey had 189 units, he said.

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“With one third of human vaccines being manufactured in Telangana, we are the vaccine capital of the world. India’s 40 per cent pharmaceuticals are manufactured here as well. Yet, not a single molecule came out from Hyderabad or India” Rama Rao said.

India does not have the luxury of United States or China. India needs to pole vault in growth and development as it was still a third world country, he said, pointing out that India’s strength was its young workforce.

He urged the students to be more innovative and make global products. Make products that suit the requirements of the world and not just Indian markets, he said, adding corporate giants across the globe were keen to invest in Indian startups.

When asked about his career in politics, the Minister said he had joined in politics in September 2006 without even informing his father and Chief Minister K Chandrashekhar Rao.

“Follow your dreams as I did and joined politics. Of course, there would be a few regrets,” Rama Rao said.

Amidst the serious motivational talk, the Minister also left the audience in splits with his humour. When the moderator Ramesh Loganathan complimented that the Minister would be a good entrepreneur, he said “My elections are due this year. If I don’t get a job, I will definitely accept your offer,”

On the best biryani in Hyderabad, the Minister said Hyderabadi Biryani was the best in the world. “It is not Avadhi or Lucknowi. Hyderabadi is best, I can debate on that” Rama Rao said.