Last Updated on January 31, 2021 by The Health Master
The park is being implemented with the Department of Pharmaceuticals (DoP)’s assistance of around Rs. 100 crore.
Besides, the pharma park being planned under the MSME scheme is expected to come up at Nagamangala in Mandya district and the Karnataka Drugs and Pharmaceutical Manufacturers Association (KDPMA) is going all out to push for its approval.
Pharma in Karnataka is getting a lot of incentives with the Union government’s productivity linked incentive (PLI) scheme and the state government’s first-ever turnover-based incentive system.
The state is looking at capital infusion, technology transfer, world-class industrial infrastructure, skill up-gradation to benchmark itself with best global standards. Last year at least 45 companies have confirmed their investment plans.
Sri Monashi Lifesciences,
Raoos Labs Indur Lifesciences,
Sirya Fine Chemicals,
Mabhika Organic Chem,
Vibrant Pharma Chem,
Sri Lakshmi Chemicals and
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The Yadgir Park spans an area of 1,000 acres of land out of the 3,300 acres that has been acquired in the industrial area. It would help to maximize the strengths and industrial prowess of north Karnataka.
We have amended the Karnataka Industries (Facilitation) Act 2002 providing certain relaxations to industrialists where the required land will be allotted to them.
Industries with less than Rs. 15 crore capital will get approvals from the district administrations and those with over Rs. 15 crore capital will get approvals from a committee headed by the Chief Minister.
Units can be started immediately after applying for permission without any waiting period, stated Karnataka’s Large and Medium Scale Industries Minister Jagadish Shettar.
As per the Karnataka new Industrial Policy 2020-25, pharmaceuticals rank 5th in exports and contributes 10 per cent to the Indian pharma revenue with 40 per cent being produced for global markets.
Presence of exclusive Pharma Special Economic Zone in Hassan, Pharma Industrial Areas and R&D Centres provide required impetus for further growth of the pharma sector.
There are 221 formulation units and 74 bulk drug units and has a well-developed research base with 35 clinical research organizations (CROs) and 12 Adverse Drug Reaction Reporting Centres (ADR).
“Our state has been on the radar of investors because of right industrial environment for ease of doing business, qualified workforce competence, reputed healthcare ecosystem backed by advanced research capabilities and leading academic institutions,” stated an official from the Karnataka Udyog Mitra.
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According to Harish K Jain, secretary KDPMA and director Embiotic Labs, the state government is seriously focusing all its attention to pharmaceuticals which is encouraging.
At the Kadechur-Badiyal Bulk Drug Park, 70 companies have applied to set up manufacturing facilities Yadgir is the location to invest going by the cost of land at Rs. 20 lakh per acre with added benefits of a common facility and funding from the government.
The Nagamangala Pharma Park is work in progress for us and the state is also encouraging private players into this space.
The state’s industrial policy also states that for potential developers it would provide a subsidy of Rs. 5 crore over and above what the Central government will give.
Key attraction for pharma companies to invest is the turnover based benefits, he added.
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