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The World Economic Forum Centre for the fourth Industrial Revolution will be established in Hyderabad.

This will be the only centre in India thematically focused on healthcare and life sciences.

The Telangana government and the World Economic Forum signed a collaboration agreement during the forum's annual meeting in Davos on Monday for the Centre, which will be an autonomous, non-profit organisation, leading on policy and governance for healthcare and life sciences.

The collaboration agreement was signed by WEF Managing Director Jeremy Jurgens, and Telangana Life Sciences Foundation Chief Executive Officer Shakthi Nagappan in the presence of Telanagana Industries and Commerce Minister K.T. Rama Rao and WEF President Borge Brende.

The minister said the Centre is a testament to the strong life sciences prowess of Telangana and is yet another step by the government to elevate the life sciences ecosystem in Telangana and globally. "Life sciences is one of the priority sectors in Telangana and I firmly believe that this partnership can leverage on the current ecosystem to further accelerate value and impact created by Telangana's life sciences sector globally," he said.

"India has a unique opportunity to spearhead healthcare and life sciences in South Asia. C4IR Telangana - with the support of the Forum's global network of Fourth Industrial Revolution centres and the backing of the state and Central governments in India - will be a key player in driving stakeholder engagement, building bridges between the public sector and SMEs and supporting job creation in the healthcare sector," Brende said.

"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," WEF's Head of Healthcare, Dr. Shyam Bishen said.

"Known for its strength in life sciences, Telangana is uniquely positioned to lead this effort, and the new Centre will play an important role in transforming the regional, national and global healthcare sector, and improving patient access and outcomes. It will accelerate product development and delivery innovation within the overall Indian healthcare system."

Telangana is regarded as a leading life sciences hotspot in Asia. It accounts for one-third of global vaccine output and is regarded as the vaccine capital of the world. Also, the state contributes to about 35 per cent of India's pharmaceutical production.

C4IR Telangana is the 18th centre to join the World Economic Forum's Fourth Industrial Revolution (4IR) Network, which spans four continents. With establishment of this center, Telangana will become an important node in the global network of 4IR centres, and will also help Telangana consolidate its leadership position globally.