The government has set a target of attracting investments worth $25 billion and generating five lakh jobs in the next five years through the policy.
Hyderabad:The Cabinet on Saturday approved the Next Generation Life Sciences Policy 2026-30 with the objective of transforming Telangana into one of the world’s top five life sciences hubs by 2030. The policy was formally unveiled earlier at the World Economic Forum meeting in Davos by Revanth Reddy in January.
The government has set a target of attracting investments worth $25 billion and generating five lakh jobs in the next five years through the policy. The Cabinet said Telangana would be developed as a major global destination for investments in life sciences, pharmaceuticals, biotechnology and medical innovation sectors.
The policy aims to create significant opportunities for youth in research, manufacturing, digital health and global innovation sectors. While the State had so far focused largely on manufacturing, the new policy would place greater emphasis on innovation-driven growth.
As part of the policy reforms, the government decided to recognise research and development (R&D) units as industries, enabling them to avail incentives and infrastructure support. The policy is expected to also help attract global capability centres and global innovation centres to Telangana.
