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Telangana Chief Minister Revanth Reddy-led 'Telangana Rising' delegation on Tuesday met the global leadership of renowned health tech company Royal Philips at the annual meeting of the World Economic Forum 2026 in Davos.
According to a statement from the Chief Minister's office, during the meeting, Jan Willem-Scheijgrond, Vice President and Global Head, Government and Public Affairs, Royal Philips, expressed interest in partnering with the state in the AI space. The delegation explained to Willem-Scheijgrond about the newly launched, dedicated Telangana life sciences policy. With an ambitious target of building a $250 billion life sciences economy by 2030, the 'Telangana Next-Gen Life Sciences Policy 2026-2030' is extending benefits to medical electronics, among various other allied areas. The Chief Minister stated that Telangana is building a world-class, sustainable industrial cluster designed to transform pharmaceutical manufacturing and R&D. "As part of the state's new economic development strategy under Telangana Rising 2047 vision, the PURE (Peri-Urban Region Economy) between the Outer Ring Road (ORR) and the Regional Ring Road (RRR) is being developed for manufacturing and logistics," CM Reddy said. Minister for IT & Industries D Sridhar Babu said, "Our strategy for pharma manufacturing, and the new Life Sciences policy, form the important building blocks that will propel Telangana towards the goal of becoming a $3 trillion economy by 2047." The Minister explained that Telangana has a mature ecosystem of over 2,000 life sciences companies, a strong IT-life sciences-healthcare talent base, Genome Valley, and the 300+ acre Medical Devices and Medical Electronics Park. "Hyderabad is known around the world for its medical tourism. Telangana-based hospitals have already integrated AI usage with a range of verticals like critical care and ambulance services," Minister Sridhar Babu added. The meeting also deliberated on potentially setting up a knowledge hub in Hyderabad with the state as a partner. The company showed interest in the same, leveraging the state's AI-led disruption in med-tech and health-tech. The Minister further stated that Telangana, strengthened by its expertise and skilled talent in technology, will soon be the epicentre for AI, adding that the state is building a dedicated AI City in Hyderabad. "This is the right time to come and set up a knowledge hub in Hyderabad." He invited the company's leadership to visit Telangana and explore opportunities with the state's advanced technology and AI ecosystem. Sridhar Babu invited Philips to visit Genome Valley in Hyderabad. Telangana Life Sciences Director Shakti Nagappan said, "Hyderabad is home to embedded engineering and R&D facilities of top companies like Medtronic, Olympus and GE." Willem-Scheijgrond said, "Telangana's AI-led disruption in healthcare is impressive. We invite the 'Telangana Rising' delegation to visit our headquarters in the Netherlands." Royal Philips is a health technology company that supplies medical systems, health informatics, personal health products, and integrated solutions to hospitals, clinics, and consumers worldwide, with a global presence in more than 100 countries. (ANI)
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