World Economic Forum’s Centre for Fourth Industrial Revolution in Hyderabad

This is the first thematic centre in India and will be an autonomous, non-profit organization, leading on policy and governance for healthcare and life sciences.

Hyderabad: Hyderabad will soon be home for yet another international body, with the World Economic Forum’s Centre for the Fourth Industrial Revolution (C4IR) to be established in Hyderabad.

An announcement on the first of its kind centre in the country was made at the World Economic Forum’s annual meeting in Davos on Monday. This is the first thematic centre in India and will be an autonomous, non-profit organization, leading on policy and governance for healthcare and life sciences.

World Economic Forum Managing Director Jeremy Jurgens signed a collaboration agreement with Telangana Life Sciences Foundation Chief Executive Officer Shakthi Nagappan in the presence of IT and Industries Minister KT Rama Rao, in what is being seen as a major achievement for Telangana on the very first day of the WEF annual meet.

C4IR Telangana is the 18th centre to join the World Economic Forum’s Fourth Industrial Revolution (C4IR) Network, which is spread in four continents. With the establishment of this centre, Telangana will become an important node in the global network of C4IR units and will also help Telangana consolidate its leadership position globally.

“I am delighted that World Economic Forum has chosen Hyderabad as its India hub for establishing a Centre for the Fourth Industrial Revolution (C4IR) focused on healthcare and life sciences,” Rama Rao said.

The Minister said establishing the C4IR in Hyderabad reflects the existing ecosystem for life sciences sector in Telangana, besides the competence of the State Government. Life science was one of the priority sectors in Telangana. The decision to set up the C4IR Centre in Hyderabad can leverage on the current ecosystem to further accelerate value and impact created by Telangana’s life sciences sector globally, he said.

Being the first healthcare and life sciences C4IR centre in the region, it will facilitate, advance and accelerate development and adoption of newer technologies including genomics, personalized medicine and healthcare manufacturing. The Centre will also leverage on the strengths that the State possesses with respect to progressive industrial policies, abundant availability of talent pool, world class infrastructure and cluster-based approach to create further value for the region and the world, according to an official statement.

India has a unique opportunity to spearhead healthcare and life sciences in South Asia. CFIR Telangana – with the support of the World Economic Forum’s global network of C4IR centres and with the State and Central governments backing – will be a key player in driving stakeholder engagement, building bridges between the public sector and SMEs and generating employment in the healthcare sector, World Economic Forum president Borge Brende said.

“With its strong track record in vaccine and medicines manufacturing and willingness to leverage Fourth Industrial Revolution technologies, India and Hyderabad in particular is becoming a global powerhouse in healthcare,” World Economic Forum Head (Healthcare) Dr. Shyam Bishen said, adding that Telangana, with its strength in life sciences sector, was uniquely positioned to lead this effort. The new Centre would play an important role in transforming the regional, national and global healthcare sector and would facilitate in better access for patients with the outcomes, he said.