Kerala is poised for significant growth in the life sciences sector, aiming to establish itself as a hub for medical device manufacturing, biotechnology, Ayurveda, and agri-technology, the Kerala State Industrial Development Corporation (KSIDC) said on Monday.
The recent BioConnect 2.0 event held in Thiruvananthapuram brought together industry leaders and experts, with many evincing strong interest in investment in Kerala’s growing life sciences ecosystem, the KSIDC said.
KSIDC Executive Director Harikrishnan R. said around 35 industrialists who visited the Bio 360 Life Sciences Park have shown keen interest in investing. “They were particularly impressed with the facilities available at the park. We anticipate more investments in Kerala as a result of this initiative,” he said in a release issued by the KSIDC.
The establishment of Life Sciences Industrial Parks, overseen by the newly formed Kerala Life Sciences Industries Park (KLIP), is designed to foster innovation and attract research and development projects across the State.
“BioConnect 2.0 became a vital networking platform for business leaders across various sectors, not just limited to medical devices. There were discussions on opportunities in Ayurveda, spices, agri-biotechnology, and more.
“The event saw participation from around 400 delegates from across the globe, including the U.S. and U.K., making the sessions highly productive,” K.S. Praveen, CEO, KLIP, said.
The KSIDC said beyond the existing 250-acre Bio 360 Life Sciences Park in Thiruvananthapuram, the State plans to establish additional parks to boost research and commercialisation in biotechnology and medical devices.
“Kerala already contributes around 25% of India’s medical equipment production, with plans to double that figure in the coming years,” the release said.
Published – September 30, 2024 11:36 pm IST