U.P. to develop pharma parks to become manufacturing hub for med products

Published on Nov 20, 2022 11:15 PM IST

The state government will give an interest subsidy to companies over the purchase of land for pharma and medical device parks.

There will be an interest subsidy on the construction of basic facilities. (HT Photo)
There will be an interest subsidy on the construction of basic facilities. (HT Photo)

Lucknow: The Uttar Pradesh government has decided to develop hubs for the manufacture of medical devices and medicines in central and the western part of Uttar Pradesh. To this end, the state government will give an interest subsidy to companies over the purchase of land for pharma and medical device parks. Also, there will be an interest subsidy on the construction of basic facilities.

The companies will be also given an exemption on stamp duty along with a 15% subsidy on the total cost. The medical devices and medicines made in these hubs in Uttar Pradesh will be supplied to Germany, France, South Asia, and the USA, said a state government spokesperson.

Addressing a high-level meeting on Sunday, chief minister Yogi Adityanath said that there are a lot of opportunities in the medical industry as it is a high-tech and demanding industry. Uttar Pradesh can tap into this as out of the total pharma graduates in the country, a maximum of 74,000 come from the state. Thus, U.P. can be easily developed as a medical hub. Some cities of central and western U.P. -- particularly those located near expressways -- are more suitable for the development of the parks, the CM said.

“At present, the state’s Growth State Value Addition (GSVN) in the field of medicine is less than $1 billion. It needs to be increased to $2-3 billion. To achieve this goal, a medical device park will be developed in Gautam Budh Nagar. The land for the same has been identified near Jewar Airport,” he added. The CM further said, “Soon, the construction work of Medical Device Park will start here. In addition to this, pharma parks will be constructed in Ghaziabad, Lucknow, Kanpur Nagar, Gorakhpur, and Hapur districts.”

The state government will give an interest subsidy of up to 50% on the purchase of land to the giants of the medical industry for setting up pharma parks in the state and up to 60% interest subsidy on the construction of basic facilities along with common facilities inside the pharma parks. “Medical equipment include lab equipment, needles, sutures, dental kits, and parts of X-ray machines,” said the CM.

These parks in the state will also give thrust to the growth of metal, machinery, glass, chemical, and plastic industries because pharma companies need these industries to prepare their products. This will also increase employment opportunities. According to an estimate, 60,000 new employment opportunities will be created each year with the establishment of the medical industry in the state. CM Yogi pointed out that the jobs will be available in the field of production, packaging, supervisor, production machine operator, quality control chemist, and manager.

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