Hyderabad, 27 Nov (KNN) Assessing the pharma and biotech industry in Telangana, Dr. Reddy's Chairman Sathish Reddy said that by 2030, the pharma and biotech industry in Telangana will have tripled to likely to reach INR 9 lakh crore (USD 120 billion).

There are more than 800 pharma, biotech and med tech companies in Telangana, producing one-third of the vaccines used worldwide, Dr Reddy's chairman Satish Reddy said. 

He was speaking at a conference jointly organized by the CII-Telangana and Telangana governments here on Friday on trade and investment opportunities in Telangana. 

He urged the state government to prioritize research activities as it was a way to lay a big platform for rapid growth in research and development in the pharma and biotech sectors.

Tata Consultancy Services (TCS) Senior Vice President, CII Telangana Former Chairman V. Rajanna said with the government's backing, the IT industry has reached USD 16 billion (approximately INR 1.20 lakh crore), (about INR 1.20 lakh crore), with a growth rate of over 12 per cent per annum, creating 6.3 lakh jobs. 

He said the availability of human resources required for the IT industry in Hyderabad was high as 4 lakh graduates were available every year. It was suggested to give high priority to power generation from alternative energy sources. 

State Government Industries Commissioner Krishna Bhaskar said that Telangana is a leader in 'Ease of Doing Business' and is one of the fastest growing states in the country.

He said that if the fiber program is completed, 'Digital Telangana' will be implemented. Kirby Building Systems MD D.Raju said that Telangana is developing very fast in the field of freight transport. 

The government is setting up a new logistics park in Batasingaram. 

It is also setting up the NCAM (National Center for Additive Manufacturing) in Hyderabad in collaboration with the Central Government's Electronics and IT Department, which will help the additive manufacturing, 3D printing and prototyping industries grow locally, said CII-Telangana Vice Chairman Vagish Dixit.