World pharma trade centre planned at Hyderabad

Andhra Pradesh industry minister J Geeta Reddy on Saturday said the state government was actively working on establishing a world pharmaceutical trade centre in Hyderabad, an important hub for pharmaceutical companies in the country.

The move was aimed at business development in the domestic pharmaceutical sector as a dedicated global trade centre would provide further impetus for local industry to grow through buyer-seller meets. Global companies would also come to establish their facilities including in areas of drug discovery, she said. 

The proposed trade centre is likely to be located at Rayadurg near the city's IT hub and the foundation stone is expected to be laid in March, according to the minister.

 

In another development, the Government of India has agreed to include some parts of Andhra that are closer to Tamil Nadu and Bangalore into the proposed Chennai-Bangalore industrial corridor, according to the minister.

About 73 industrial projects with an investment of Rs 1.2 lakh crore are under implementation while 10 industrial units with a total investment of Rs 3,126 crore have started operations, she said, explaining the status of the MoUs signed during the investment summit held in January this year.