Telangana has conducive atmosphere for investors: KTR

Hyderabad, April 28 (Maxim News): IT and Industries Minister KT Rama Rao has informed that the State government is providing a conducive atmosphere for attracting more investments in Telangana State.

The Minister said that the State government is aimed at working to generate about 100 billion dollars in Life Sciences sector by 2030.

The IT Minister on Thursday inaugurated a research and development centre and India Engineering Centre (IEC) belonging to Thermo Fisher Scientific, which is the world leader in serving science with annual revenue of approximately $ 40 billion.

The newly expanded India Engineering Center (IEC) is part of Thermo Fisher’s R&D Center of Excellence in India and will bring an additional 140 new jobs to the region. Thermo Fisher Scientific invests more than $1.4 billion annually in R&D.

Thermo Fisher’s IEC is a world-class research and development center and will employ over 450 diversely talented engineers and vendor partners.

The center at Hyderabad is a 42,000 sq. ft facility that includes the engineering lab and will support new product development for laboratory and analytical solutions for Thermo Fisher’s global sites.

In addition, the facility will also attract top talent and open employment opportunities in the Telangana State. This facility will have the required infrastructure to design & develop instruments, perform product reliability performance testing and verification, as well as validation of products.

During the inauguration, Minister KT Rama Rao said, “Over the years, the State of Telangana has been recognised as the leading hub for life sciences not just in India but in Asia as well, presenting unlimited opportunities and highlighting the region as a preferred destination for investment and expansion. We have made sure that we have a skilled workforce, favourable policies, and best-in-class infrastructure to help companies setup facilities that meet global standards. Today’s inauguration of Thermo Fisher Scientific’s India Engineering Centre is a testament to the overall ecosystem for life sciences in Telangana and the pro-business policies of the government, which attracts global players to Hyderabad. With the annual planned R&D investment of approx. USD 15 million, I am also happy to learn that this facility will create employment of over 450 people, throughout the value chain,”.

“Hyderabad city is a hotspot for talent acquisition, home to world-renowned R&D institutes, and is one of India’s fastest-growing engineering, life sciences and IT knowledge hubs. The expansion of the facility is a testament to Thermo Fisher’s unwavering commitment to supporting change by accelerating innovation, improving time to market for new products,” said Tony Acciarito, President, Asia Pacific & Japan, Thermo Fisher Scientific.

Speaking on the expansion of the facility, Amit Chopra, Managing Director, India and South Asia, Thermo Fisher Scientific, said, “The new infrastructure at Hyderabad is uniquely placed to drive technological advances and excellence in developing new products and solutions that strengthen our offering and leadership position in the research, industrial and clinical market. It is an extension of Thermo Fisher’s philosophy that believes in leveraging our world-class infrastructure, scientific knowledge, expertise, and talent ecosystem to build intelligent solutions that have meaningful impact as we continue to work towards fulfilling our Mission, which is to enable our customers to make the world healthier, cleaner and safer.”

“Our Thermo Fisher Scientific India Engineering Center offers design expertise that enables growth of our business and delivers innovative products and technology to our customers. The IEC supports multiple business, products and processes with an extremely talented team model that is both scalable and flexible based on the specific business need. This investment is a testimony of our commitment to the IEC, their technology platforms, innovations and people,” said Michael Meguiar, Vice President, Operations, Laboratory Equipment, Thermo Fisher. (Maxim News)

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