Hyderabad close on heels to Bangalore as Pharma Destination

The Birla Research & Life Sciences Ltd has signed a Memorandum of Understanding (MoU) with government of Andhra Pradesh to build a Global Integrated Ayurveda Complex in the state. Under the MoU, the Birla Group will invest Rs.704 crore in the state to construct the state-of-the-art complex. Apart from its investment in the global integrated Ayurveda complex, the Birla group is also investing worth Rs.2000 crore in education, employment, technology, infrastructure and Industry development.

Earlier, as part of its partnership summit-2012 held in Hyderabad at HICC (Hyderabad International Convention Centre), the state government had signed MoUs with different companies. On the first day, the government had reached agreements worth Rs.76,000 crore with reputed global companies. The event was organized for two days by the Confederation of Indian Industry (CII) in association with government of Andhra Pradesh and central governments. It is expected that the summit will help bring investments worth Rs.5 lakh crore to the state.

The partnership summit has brought in new enthusiasm to the industry, especially the pharma sector, as Hyderabad witnessed a meet on this scale after nine long years. The Government views the development as a great success as it will rebuild the state’s image as an investment friendly destination. The partnership summit was attended by more than 1200 delegates, including 350 foreign delegates from 43 countries. Trade and economic ministers from 15 countries also attended the meet.