The economy of India took a huge hit because of Coronavirus, but it is now looking better than ever, with Pharma companies seizing the opportunities that the virus has presented the country with – with respect to the many areas of development in the pharma field in the country. As a result, many companies are looking forward to establish industries, and invest in new branches across the country.
Andhra Pradesh and Telangana are about to be the center for many of these investments, making them the most happening states right now. Lars Labs and Granule India companies are getting ready to invest in Telangana, and Minister KTR even recently met with the officials of these industries. Hundreds of crores would be invested by these companies in Hyderabad, in the Genome Valley, with Granule India investing Rs. 400 Crores for a new manufacturing unit, and Lars Labs investing Rs. 300 Crores in the same industry. A total of 1,750 members are expected to get jobs through these companies, and maybe even more.
Electric vehicles manufacturing company Kinetic Green is planning to establish an Electric Golf Cart and Battery Swapping Unit in Andhra Pradesh, by investing an amount of Rs. 1,750 Crores. Lamborghini had made a deal with Kinetic green in India, in 2018, to manufacture electric cars in the country. As part of this deal, Electric Vehicle Manufacturing Unit, Battery Charging Stations, Charging Swapping, R&D Units are being established in AP, with the above mentioned 1,750 Crores.
Although there were many delays in the investment process till now, post the pandemic lockdown, things are looking up, and this is indeed a great opportunity for the 2 Telugu states.