Hyderabad: IT and Industries Minister, KT Rama Rao today said that Ferring Pharmaceuticals will boost fast growing Pharma industry in Telangana as also provide employment to many people in the state. KTR laid foundation stone for a world class manufacturing facility of Ferring Pharma at Genome Valley in Shamirpet on the city outskirts here on Saturday.
Speaking on the occasion the minister welcomed the Swiss based Ferring Pharma to join the long list of marquee global life sciences companies in Telangana. It will augment the pharma industry in the new state which is noted medical exporting states in the country. KT Rama Rao claimed that Telangana is number one in Ease of Doing Business (EODB) in India. He exuded confidence that life sciences wing in the state provides direct employment 2 lakh people and indirect employment to 4 lakh people.
The State government has launched new industrial policy giving all permissions in just 15 days. Thus this policy taken up by the government will boost the morale of the industries and businesses to rope in with huge investments he said. He listed out the companies forayed in the state using hassle free business environment supporting state economic growth and providing employment, he said.
In the coming 10 years, the State will make significant development as the life sciences sector will double its employment opportunities. Hyderabad is the world class exporter of medicines and a medical devices cluster was set up in the city to supplement he said. Skill Development is key area for which the government is providing necessary training and skills among youth to fit to the industry needs he remarked. (NSS)
