New Govt. policies boost Pharma in U.P

The government has proposed green field pharmaceutical parks in Kanpur, Lakhimpur Kheri, Hardoi, Shahjahapur and Ghaziabad.

These parks would be developed by private developers where medicines and surgical equipment would be manufactured. They would also have research laboratories, diagnostic centres, godowns of pharma companies, common facility centres, hostels and a power station for uninterrupted power supply.

The pharma units coming to Uttar Pradesh would be divided into three formats – mega, large and MSME. The mega units investing more than Rs 100 crore would have to ensure that 75% of their total workforce comprises local people. Large pharma units investing between Rs 10 crore and 100 crore would have to ensure that 50% of their workforce is local.

Along with manufacturing allopathic medicines, the state government would also promote manufacturing of AYUSH medicines in the proposed pharma parks. Those willing to set up AYUSH units would also get special concessions from the government in terms of allotment of land and other related facilities.

  • Subsidy on interest up to Rs 50 lakh per annum till seven years on loan availed to purchase land in pharma parks.
  • Rs 50 crore subsidy on interest on loan availed to construct a building in pharma park.
  • On construction of hostel, subsidy of Rs 30 crore on interest generated on loan availed for construction work.
  • For purchasing of machines and development of infrastructure, subsidy on interest has been assured by the state government.
  • Tax rebate, subsidy on stamp duty and electricity bills.
  • The government has also proposed to create a special fund to promote start-ups in the pharma sector. This corpus would also be utilised to fund research in the pharma sector.

2/16/2018 12:09:35 PM