The Uttar Pradesh government is in talks with several multinational companies and domestic players to open six pharma parks across the State.
Uttar Pradesh health minister Sidharth Nath Singh said on Thursday said the State Government received an investment commitment of about Rs 50-60 billion from domestic and multinational pharma companies like Mylan, GE, Pfizer and Sanofi.
“Uttar Pradesh is already a major centre having 30 per cent of manufacturing and exports of pharmaceuticals in the country. We had announced new pharma policy three months back and have already received an investment commitment of about Rs 50-60 , of which we hope that several will materialise soon,” Singh was quoted as saying.
Speaking on the sidelines of the Organisation of Pharmaceutical Producers of India (OPPI) annual celebration event, Singh said, the government is setting up six pharma parks in Noida, Bundelkhand, Ghaziabad, Gorakhpur, Lucknow and Allahabad, which will help in achieving faster growth.
The government will allot 100 to 250 acres of land and offer incentives like free electricity, zero stamp duty and interest free loan up to Rs 100 million for the infrastructure development, he said.
“We are also reimbursing for five to seven years the state GST component. For the R&D support, we are providing capital intensive subsidy in the form of reimbursement to 60 per cent (up to Rs 5 million for the maximum unit),” Singh said, adding that the state offers single window system and follow ethical practises.