Yet another day and yet another achievement for the city of pearls. You're probably mistaken if you'd thought the city is only outpacing its contemporaries like Bengaluru and Mumbai in industries like real estate, technology, IT, Science & Tech, Entertainment, etc. In 2020, World Economic Forum positioned Hyderabad as a hot Investment Destination. Two years later, the city fetches another feather on its cap.
Why is the City in Global Spotlight again?
The World Economic Forum (WEF) has chosen Hyderabad to set up its first Center for the Fourth Industrial Revolution (C4IR) themed on healthcare and life sciences in India this Monday. The announcement came from Telangana Industries Minister K T Rama Rao's office this Monday as World Economic Forum (WEF) re-convened at Davos for its first winter session in the last three years.
The centre is an autonomous Non-Profit organisation tasked to focus on policy and governance for life sciences and healthcare. The announcement came soon after the collaboration agreement was signed between the state government and the forum during the annual meeting. The deal was approved in the presence of Mr Rao, WEF managing director Jeremy Jurgens and Telangana Life Sciences Foundation CEO Shakthi Nagappan.
What does this mean to Hyderabad?
It doesn't surprise that the city has consistently ranked higher in the Business Performance Index. During the 2020 WEF Meeting, the state earned a special mention with MNCs showing vital investment interests in the city. In the last few years, Hyderabad has been skyrocketing in every sense, with a fast-paced overall development.
All thanks to the Telangana government's concentration on innovation, infrastructure, and inclusive development, the business quality has vastly improved. Speaking of which, Telangana today is regarded as the life-sciences hotspot in Asia. The state accounts for around one-third of global vaccine output and hence is regarded as the vaccine capital of the world. The state also contributes about 35% of India's pharmaceutical production. This data alone suffices for the state's positioning in the pharma Industry, a primary driver for all kinds of development today.
The city is making a more prominent global footprint today by establishing a C4IR and leading the 4th Industrial revolution from India. This special honour from the World Economic Forum, one of its only kind in India, is a testament that the city will see no stopping soon.
What does this mean to Hyderabad's Real Estate Sector?
"With its strong track record in vaccine and medicines manufacturing and willingness to leverage Fourth Industrial Revolution technologies, India is becoming a global powerhouse in healthcare," said Shyam Bishen, head of healthcare at the World Economic Forum.
"Known for its strength in life sciences, Telangana is uniquely positioned to lead this effort. The new centre will transform the regional, national and global healthcare sector and improve patient access and outcomes. It will accelerate product development and delivery innovation within the overall Indian healthcare system," he added.
Hyderabad's prominence in any industry will, directly and indirectly, help boost the real estate and residential sector. With the city positioning itself as a leading metropolis in healthcare and life sciences today, surpassing other fast-moving Indian cities, there's a potential room for relentless infrastructure development.
Undeniably, the demand for flats and apartments for sale in Hyderabad will further peak with rapid investments, the establishment of small and medium enterprises, job creation, etc., in the healthcare industry.
According to reports, C4IR Telangana will be the 18th centre and a key node in the global network of 4IR centres to join WEF's Fourth Industrial Revolution (4IR) network that spans four continents. The centre will also hasten product development and delivery innovation within the Indian healthcare system, revamping the entire city per se. The city's abundance regarding the talent pool, world-class infrastructure and progressive Industrial policies of the government will suitably aid the functioning of the centre and vice-versa.
This global spotlight recognition comes in the right form and time for Hyderabad. With the healthcare and pharma-led infrastructure, the increased inflow of working professionals, and government-led initiatives towards the ease of doing business, Hyderabad real estate is also bound to rise higher.
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