Last Updated on December 27, 2024 by The Health Master
Pharma Park
Haryana Chief Minister, Nayab Singh Saini, has pledged the state government’s unwavering support for the development of a dedicated Pharma Park in Karnal.
This commitment was conveyed to the Haryana Pharmaceutical Manufacturers Association (HPMA) during a recent meeting.
Key Highlights:
Industry Demand:
The HPMA, led by President R L Sharma, presented a memorandum to the Chief Minister, emphasizing the critical need for the Pharma Park.
This aligns with the ruling party’s election manifesto and a previous commitment made by the Union Minister of Chemicals and Fertilizers.
Existing Industry Presence:
Karnal currently boasts around 150 pharmaceutical MSMEs, contributing significantly to the local economy.
The existing Common Facility Centre (CFC) plays a crucial role in quality control and testing, facilitating exports for some manufacturers.
Growth Potential:
The current turnover of the pharma sector in Karnal is estimated at Rs. 1,000 crore.
With the establishment of the Pharma Park, this figure is projected to soar to Rs. 2,000 crore per annum, creating an estimated 25,000 jobs.
Infrastructure Development:
The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) will be responsible for developing essential infrastructure within the park, including roads, sewage treatment, water treatment, and effluent treatment facilities.
Government Support:
The HPMA has requested crucial government support, including investment subsidies, to incentivize industry participation in the Pharma Park.
Benefits of the Karnal Pharma Park:
Strategic Location:
Karnal’s existing concentration of pharma and allied industries provides ready access to raw materials and services.
Cost-Effectiveness:
The operational CFC reduces the need for individual companies to invest heavily in laboratories and testing facilities.
Ease of Doing Business:
The state government’s focus on streamlining approvals will further enhance the attractiveness of the Pharma Park for investors.
This project holds immense potential to transform Karnal into a major pharmaceutical hub in India, attracting significant investment and creating numerous employment opportunities.
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What is the estimated size of the Karnal Pharma Park?
The HPMA has identified approximately 100 acres of land for the development of the park.
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What role will the Karnal Pharma Park Limited play?
This special purpose vehicle will be instrumental in overseeing the planning and development of the park.
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What are the key challenges facing the pharma industry in Karnal?
The industry currently faces limitations due to space constraints and the need for improved infrastructure.
Disclaimer: This article contains information derived from the source mentioned below. Our team utilized an AI language model to rewrite and present the news or article in a unique format.
Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice.
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