Latest news with #PharmaceuticalandMedicalDevicePolicy
Time of India
3 days ago
- Business
- Time of India
UP to hold roadshow in Ahmedabad to boost pharma sector investment
Lucknow: The Yogi government, in collaboration with the UP State Industries Development Authority and Confederation of Indian Industry, is set to host a roadshow in Ahmedabad on Friday to showcase opportunities in the pharmaceutical sector. An official spokesperson stated that the pharma sector is a key catalyst towards achieving the one trillion-dollar economy goal. Senior officials, including Mayur Maheshwari, CEO of UPSIDA, and Awanish Kumar Awasthi, advisor to the CM, are likely to address the business community in the Gujarat capital. The state govt is actively promoting the sector through initiatives like the creation of mega drug parks and the establishment of dedicated institutions for pharma research and innovation. These efforts are built on the existing base, which includes the presence of the Central Drug Research Institute lab and a large number of pharmaceutical units, particularly in the formulation sector, located in districts like Ghaziabad, Lucknow, and Kanpur. Additionally, the state has a robust network of pharma educational institutes. "The govt is actively fostering innovation and entrepreneurship in the pharmaceutical sector through the establishment of incubation centres and 'Promote Pharma', a dedicated institution for pharma research and innovation," said a govt officer. An assessment by Invest UP shows that the pharmaceutical sector attracted nearly Rs 2,845 crore in investment and generated over 70,000 jobs in three years. "Over the past three years, the state attracted investments worth approximately Rs 2,845 crore in the pharmaceutical sector via the single window portal. This includes investments in manufacturing units, blood centres, and drug retail establishments," the officer stated. Between 2022–23 and 2024–25, around 167 manufacturing units were set up, creating about 3,340 jobs. In the same period, 195 blood centres and 32,475 medicine retail outlets were also established, creating approximately 1,365 and 64,995 jobs, respectively. The Pharmaceutical and Medical Device Policy, 2023 has further strengthened investor confidence. The policy offers several incentives, including a stamp duty exemption of Rs 3.89 crore, encouraging new investments and the expansion of existing businesses. This has led to a spike in both manufacturing facilities and retail operations within the state. The list of investment opportunities also includes the development of the Lalitpur Bulk Drug Park, which is progressing significantly.
Hindustan Times
24-05-2025
- Business
- Hindustan Times
Pharmaceutical sector generated over 70K jobs in 3 yrs: Govt
Pharmaceutical sector has attracted nearly ₹2,845 crore investment and generated over 70,000 jobs in three years, said a press statement issued by state government on Friday. The state's 'Nivesh Mitra' single window portal—an entirely paperless, online system—has so far facilitated the issuance of over 1.71 lakh licences under digital push with the Uttar Pradesh Pharmaceutical and Medical Device Policy, 2023. Over the past three years, the state has attracted investments worth approximately ₹2,845 crore in the pharmaceutical sector via the single window portal. This includes investments in manufacturing units, blood centres, and drug retail establishments, said the press statement. Between the years 2022–23 and 2024–25, around 167 manufacturing units were set up, creating about 3,340 jobs. In the same period, 195 blood centres and 32,475 medicine retail outlets were also established, which created approximately 1,365 and 64,995 jobs respectively. The Pharmaceutical and Medical Device Policy, 2023 has further strengthened investor confidence. The policy offers several incentives, including a stamp duty exemption of ₹3.89 crore, encouraging new investments and expansion of existing businesses. This has led to a spike in both manufacturing facilities and retail operations within the state.
