The event will highlight the opportunities in pharmaceutical research and manufacturing, particularly in the upcoming Pharma Park in Lalitpur district and other parks….reports Asian Lite News
The Uttar Pradesh Government will be organising a ‘Pharma Conclave’ in Hyderabad on Thursday.
The ‘Pharma Conclave’ is being held in collaboration with the Bulk Drug Manufacturers Association of India, Indian Drug Manufacturers Association (IDMA) – TS and AP Chapter and other associations to attract investments in the healthcare and pharmaceuticals sector in Uttar Pradesh.
According to the official spokesman, the conference will primarily focus on sensitising industry stakeholders on various incentives offered by the Government of Uttar Pradesh through its Industrial Policy and the Pharmaceutical Policy 2023.
The event will also highlight the opportunities in pharmaceutical research and manufacturing, particularly in the upcoming Pharma Park in Lalitpur district and other parks.
Several distinguished pharmaceuticals industry leaders from Hyderabad, will participate in the event to convey their expectations from the Government of Uttar Pradesh.
The event will be graced by prominent industry captains, leadership and members of organisational bodies along with representation from regulatory authorities and other pharma industry stakeholders.
The Uttar Pradesh Government has roped in industry experts as brand ambassadors of the pharma sector in southern India to help attract the right investment in this sector.
With a focus on fostering pharmaceutical, generic medicines and medical devices industries in the state, the state government is setting up an exclusive bulk drug park in Lalitpur district with an investment outlay of Rs. 8,000 crore.
The proposed bulk drug park is spread over 1,472 acres across five villages in the arid Bundelkhand region.
The Uttar Pradesh Government’s policy framework provides single window clearance for regulatory approvals and incentives such as interest and capital subsidies and stamp duty exemption, creating an ideal environment for pharma parks and individual units, enhancing the state’s reputation as an investment-friendly destination.
Speaking about the event, Mayur Maheshwari, CEO, UPSIDA said, “Government of Uttar Pradesh (GoUP) will be seeking investments from healthcare and pharmaceutical companies from Hyderabad at the conclave. The conference will demonstrate several measures being taken by GoUP to attract healthcare and pharmaceutical companies to the state by rapidly boosting the infrastructure required for the industry and the irresistible incentives for setting up their manufacturing and R&D facilities in the state.”
As part of the UP Pharmaceutical & Medical Device Industry Policy 2023, GoUP is providing a capital subsidy of 15 per cent on investments up to Rs. 200 crore, 100 per cent electricity duty exemption for 10 years, a 50 per cent capital interest loan subsidy for procurement of plant and machinery and various waste management incentives for pharma units.
Furthermore, GoUP policy provides 100 per cent stamp duty exemption, incentives for R&D and innovation and a special package for units established in Bulk Drug Parks & Medical Devices Parks.
Currently, there are nine pharma parks and clusters located in GB Nagar, Ghaziabad, Kanpur Nagar, Lucknow, Meerut and Moradabad, with nearly 400 formulation units, 41 bulk drug units, 91 cosmetic units, 122 medical devices manufacturing units in Uttar Pradesh.
The state received Rs. 3,000 crore in investments in the pharmaceuticals and medical devices sector and registered a growth of 38.2 per cent in exports between FY16 and FY19.
ALSO READ: Govt Imposes 50% Export Duty on Sugar-Derivative Molasses
