Hyderabad (Telangana) [India], February 25 (ANI): Telangana Chief Minister A Revanth Reddy said that he wanted to transform the state's economy into a trillion-dollar economy in the next 10 years. He participated in the inauguration of the 'Bio Asia 2025' conference at Hyderabad International Convention Centre (HICC) in Hyderabad on Tuesday.

In his address, CM Revanth Reddy said, 'I want to transform my state's economy into a trillion-dollar economy in the next 10 years. The core urban area will become a service-only city and a net-zero hub. This is where we are creating future city, AI city and many other big projects. Hyderabad is now the EV capital of India with the highest sale of EVs in the entire country. Outside this core urban area, I wanted to develop one of the world's largest manufacturing hub. I want to make it my offer to the world for its China plus One need.'

He further said that Telangana is a landlocked state and the state government is developing a mega-dry port, well-connected to a seaport in neighbouring Andhra Pradesh.

'These two ports will be connected by dedicated rail and road links... We are excited to have this Bio Asia conference in this larger framework. I want to express my vision: together, we will develop Hyderabad and Telangana into one of the world's best and largest ecosystems for biosciences, biotech and life sciences in innovation, research and development, manufacturing, skills development and investment,' he said.

CM Revanth Reddy said that the BioAsia has promoted the city of Hyderabad as the world's life sciences capital.

'The BioAsia conference has been attracting people from all over the country and the world. The conference also guides the world to set the future of the healthcare sector on the development trajectory. Many world-renowned pharma companies, healthcare, life science and biotech companies are operating from Hyderabad,' he said.

He said that the state government has been working with a vision of promoting the institutions which are doing research and innovation.

He said that the state government has invested in higher education for a long time, generated a large number of scientists, technologists and engineers in the respective fields and established Genome Valley.

He further said, 'We have accorded top priority to the services sector in the Hyderabad Core Urban City Area. The state government is undertaking many huge projects in Hyderabad, including Future City and AI City.'

He said that now Hyderabad is also popular as the capital of electric vehicles in the country.

'Hyderabad registered the highest sale of electric vehicles in the country. We are introducing 3,000 electric buses in the TSRTC soon. The government will develop a manufacturing hub between Outer Ring Road (ORR) and Regional Ring Road (RRR) outside the core city. We will invite investments from all over the world. Radial roads will connect the ORR and RRR and develop clusters on both sides of these roads,' he said.

He said that the US based Amgen company expanded its operations in Hyderabad. 'This is a testament to the state government's commitment to cooperation to the life sciences sector,' he further said.

'We are inviting all the world's leading companies to make use of advantages in Telangana, the government's cooperation and join us as partners. Our government is committed to providing simplified industrial policy, infrastructure and support as much as desired. Telangana is number one in India in attracting investments from India and abroad. The State has the lowest inflation and the highest job creation,' CM Reddy said.

He further said that Telangana secured investments of Rs 1.80 lakh crore at the recently held World Economic Forum held in Davos.

'About 50,000 jobs are being created in different sectors. The government successfully attracted over Rs 40,000 crore in investments in the life sciences sector last year. These investments are spread across over 150 projects. The state government is developing Pharma villages between ORR and RRR. We are hoping to create over five lakh new jobs. Green Pharma City, a key initiative under the Future City project, is growing rapidly. Major pharmaceutical companies have already signed MoUs with the Telangana government,' he further said.

He said that German company Milten Biotech launched its cell and gene therapy in Genome Valley in Hyderabad.

'Welcoming four more multinational companies to our ecosystem on this platform. In the last 25 years, Hyderabad grew itself as a pharma manufacturing, IT and digital health powerhouse. Government organised the AI Healthcare Summit last year,' he said.

CM Revanth Reddy congratulations and welcomed all the dignitaries who were attending the BioAsia conference from all over the world.

'Hoping all the delegates will use Hyderabad as a suitable platform to grow. I would like to specially congratulate Professor Patrick Tan who received the Genome Valley Excellence Award,' he added. (ANI)