Himachal: Rs 2,110 crore agreements inked at pharma expo

Shimla, March 3

The state government has signed 17 MoUs amounting to Rs 2,110 crore at a pharma expo in Mumbai.

Chief Minister Sukhvinder Singh Sukhu today assured investors of full support in initiating proposed projects in a time-bound manner.

Led by Industries Minister Harshwardhan Chauhan, the state delegation showcased the pharma ecosystem of the state at the expo to invite potential medical device players for investment in the upcoming bulk drug park and the medical devices park.

Chauhan emphasised on the successful working of more than 630 pharma manufacturing units exporting formulations worth Rs 10,000 crore. He also highlighted the need for active pharmaceutical ingredient (API) manufacturing in the state, as there is an annual demand for bulk drugs worth Rs 35,000 crore.

“This will not only provide impetus to the pharma ecosystem but also save precious foreign exchange through import substitution,” he said. The government would provide liberal incentives and subsidised utility rates to manufacturers in the bulk drug park and the medical devices park, he added.

As per a government press note, several big pharma players expressed their desire to set up industrial units in the bulk drug park and the medical devices park. Lupin Limited, one of the biggest pharma firms, expressed interest in setting up a fermentation-based API unit in the bulk drug park.

Anil Sharma, a leading film director and producer, expressed his keenness to set up a film city in the state. Sukam Power Systems showed interest in investing Rs 300 crore in electric vehicles and its component project.