The Uttar Pradesh government will develop a BPharma and Medical Device Park in central and western Uttar Pradesh. The government will provide an interest-bearing subsidy on the acquisition of Pharma Parkland. The company may also receive a stamp duty exemption and a 15 per cent subsidy on the entire cost, according to ANI.
The announcement stated that “Medical gadgets and medications developed in UP will be supplied to Germany, France, South Asia, and the USA.”
In a high-level meeting, CM Yogi stated that the medical sector currently offers a lot of opportunities because it is a high-tech and demanding industry.
The Chief Minister stated, “On the other hand, in the entire country, a maximum number of children complete the education of about 74,000 pharma graduates in UP annually. In such a situation, UP can be easily developed as a medical hub. Some cities of central and western UP are more suitable for this. The city is located near the expressway.”
“At present, the UP Growth State Value Addition (GSVN) in the field of medicine is less than one billion dollars; it needs to be increased to 2 to 3 billion dollars. To increase this, Gautam Budh Nagar has been selected to develop the Medical Device Park,” he added.
According to the Chief Minister, property in Gautam Buddha Nagar near Jewar Airport has been designated for the purpose.
The building of the Medical Device Park will soon begin here. The statement added that Pharma Park would also be built in Ghaziabad, Lucknow, Kanpur Nagar, Gorakhpur, and Hapur.
It also stated that the Yogi government would provide interest subsidies of up to 50 per cent on land purchases made by major players in the medical sector for the construction of Pharma Parks in Uttar Pradesh and up to 60 per cent on the construction of basic facilities as well as shared facilities inside the Pharma Parks.
“The United States, France, Germany, and South Asia would receive medical equipment and medications created in Uttar Pradesh. According to the statement, “Equipment comprises pieces of X-ray machines, while medical equipment includes lab equipment, needles, sutures, dentistry kits, etc.