HP gets Rs 1200 cr bulk drug pharma park
Shimla: Just ahead of the state assembly elections, Himachal Pradesh – a small hill state housing Asia's biggest pharmaceutical hub is all set to give the biggest boost in industrialisation.
For two years, the state has been vying for an allotment of Rs 1200 cr bulk drug park –a central government project proposed to reduce India's dependence on foreign companies, especially China.
Fulfilling state's demand, the centre on Tuesday sanctioned a proposed bulk drug for the state bringing cheers to the poll-bound state.
Of Rs 1200 cr investment, the centre will straight away provide Rs 1000 funding while another Rs 200 cr will be the contribution of the state for development of common infrastructure facilities.
The expected investment is about Rs.8000-10,000 crore. It will have an employment potential of about 15,000-20,000 persons. Power requirement is about 100-120 MW.
Chief Minister Jai Ram Thakur who had lobbied hard was first to convey his gratitude to Prime Minister Narendra Modi and Government of India for allocation of Bulk Drug Pharma Park to the State.
Jai Ram Thakur said " it was indeed a momentous moment for Himachal to get this project of national importance, as it would ensure retention of pharma formulation units as well as create local employment opportunities for many years in the state"
He said that the prime objectives of allocating bulk drug pharma park to Himachal and other states are augmenting domestic manufacturing, ensuring drug security and reducing the dependency of bulk drugs on China.
Thakur said that the Centre had approved the scheme of bulk Drug Park on March 21, 2020, wherein evaluation criteria were prescribed for submitting the proposal. As per the guidelines, 90% of the project cost with the maximum limit of Rs 1000 crore was to be provided by the Department of Pharmaceuticals (DoP).
During the Corona period, the state government has started identifying the requisite parcel of land and finally selected a land parcel measuring 1,405 acres at Polian, Tibbin, Malluwal Tehsil Haroli, district Una.
It is worth mentioning that the Chief Minister had interacted with top pharma players before submitting the proposal to the Government of India. Consequently, the proposal for bulk Drug Park was approved by the committee headed by the Chief Minister before submitting to the Government of India, wherein highly competitive utility rates and liberal incentives were offered.
As it is fact that Himachal Pradesh is home to more than 600 pharma formulation units and annual demand for bulk drug in the State is about 30,000-35,000 crore per annum. Now this entire State; bulk drug demand would be met out of this park in a cost-effective manner which would enhance the productivity and operational efficiency of pharma formulation units.
Besides this park would also cater to the Active Pharmaceutical Ingredients (API) needs of the country as a whole, particularly in northern India. Himachal Pradesh is the hub of science graduates and would meet the skilled manpower requirement of this park in a comfortable manner.
