Southern States - Andhra Pradesh

CM woos biotech cos

By Our Special Correspondent

HYDERABAD June 21. The Chief Minister, N. Chandrababu Naidu, today announced that the Government was prepared to pull out all stops to promote Hyderabad as the best destination for the biotech industry.

Releasing the Global Biotechnology Report compiled by the consultants, Ernst&Young, he said he was willing to make policy changes and announce incentives for the industry. "The Government is committed to providing biotech companies a hassle-free environment and all the required infrastructure.''

Mr. Naidu said the Biotechnology Park coming up at Turkapally on the outskirts of Hyderabad was getting good response since global bodies like IFC, Washington, Hiedelberg Technology Park, Germany, and North Caroline Research Park were partnering with park promoters to provide world-class facilities. The IFC would provide project funding to biotech companies planning to set up units in the park.

He disclosed that the Government would set up a world-class animal house in Phase -II of the biotech park. The animal house would make the park a one-stop shop for all their research needs.

Referring to the advantages enjoyed by Hyderabad in attracting investments in the biotech sector, he said the City was all set to emerge as the ultimate destination for all biotech companies looking at the Asia-Pacific region.

Earlier the Chairman of E&Y India, Kashi N. Memani, said this was the first global report since it expands upon the successful US and Europe focussed report to include an analysis of Asia-Pacific and emerging markets like India.

The Minister for IT-Enabled Services, B. Gopalakrishna Reddy, the Secretary, Industries, B. P. Acharya, the Head of E & Y's Biotech Practice, Utkarsh Palnitkar, and the CEO, Bobby Parikh, also addressed the meeting.

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