Industries Minister KT Rama Rao stated that efforts are being made to increase the life sciences ecosystem in Hyderabad from 50 billion dollar to 100 billion dollar sector by 2028.
On Friday, during a Fireside Chat with IIIT students in the city, the Minister stated that 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.
“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 lacks the luxury of the United States or China. As a third-world country, India needs to pole vault in terms of growth and development, he said, emphasizing India’s strength as its young workforce.
He encouraged the students to be more innovative and to create global products. Make products that meet the needs of the entire world, not just Indian markets, he said, adding that corporate behemoths from all over the world were eager to invest in Indian startups.
When asked about his political career, the Minister stated that he entered politics in September 2006 without even informing his father, Chief Minister K Chandrashekhar Rao.
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“Follow your dreams as I did and joined politics. Of course, there would be a few regrets,” Rama Rao said.
Among the serious motivational speech, the Minister also left the audience in splits with his humor. 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.”
The Minister stated that Hyderabadi Biryani was the best in the world when asked about the best biryani in Hyderabad. “It is not Avadhi or Lucknowi. Hyderabadi is best, I can debate on that” Rama Rao said.
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