Telangana on Saturday set the ball rolling for what is touted as the country’s largest dedicated medical devices park. KT Rama Rao, minister for industries and commerce, IT E&C, MA&UD and public enterprises, inaugurated the 250-acre park on the city’s outskirts at Sultanpur in Patancheru of Sangareddy district.
Fourteen companies, including the likes of Apollo Hospitals, Cyient Limited, Sandor Medicaids, Healthware Pvt Ltd, have already been allocated 50 acres of land in the park, where they will be investing over Rs 425.59 crore and creating direct employment for nearly 4,000 people, including 700 women by Sandor Medicaids alone. During the inaugural event on Saturday, land documents were handed over to representatives of the 14 units.
Unveiling the park in the presence of irrigation minister Harish Rao and bigwigs from companies such as Sanofi, Shantha Biotech, Johnson & Johnson, Cyient, Hetero Drugs and Apollo Hospitals, KTR termed it as India’s largest medical devices park as it offers scope for expansion by another 200 acres.
Pointing out that Hyderabad continues to enjoy a dominant position in life sciences thanks to its leadership position in pharmaceuticals, vaccine manufacturing, biotech and medical tourism, he said the city is not just offering a medical devices park with land to set up a factory but an entire ecosystem comprising innovation, prototyping, scaling up and manufacturing opportunities.
He said that with the Indian medical devices industry poised to grow to $50 billion by 2025-30 on the back of indigenous innovation, manufacturing and exports, it was this space that the Telangana Medical Devices Park was targeting.
Telangana State Industrial Infrastructure Corporation (TSIIC) has already entered into MoUs with China Medical City located at Taizhou and a medical devices park at Gwangju in South Korea to create common technology exchange platforms.
The park in Hyderabad will offer facilities to support innovation, research & development, and manufacturing as well as warehousing and logistics, electricity and water.