Tuesday, Mar 19 2024 | Time 14:37 Hrs(IST)
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Business Economy


1400 acres bulk drugs park to come up in Una: CM

Shimla, Oct 29 (UNI) Himachal Pradesh government has identified around 1,400 acres in Una for a proposed bulk drug park.
This was stated by chief minister Jai Ram Thakur on Thursday while addressing a webinar.
Himachal is one of the states vying for allotment of one of the three proposed bulk drug parks in the country under a central government scheme.
Speaking to representatives of pharmaceutical industries during a webinar, Thakur said that availability of water and power at low tariffs and presence of industrial gas pipe line makes Himachal Pradesh in general and the proposed drug park in Una a suitable place for investment in the pharmaceutical sector.
Under a scheme for promotion of bulk drug parks in the country announced by the central government earlier this year, the union ministry of chemicals and fertilisers will provide a one-time grant-in-aid upto Rs 1,000 crore each for setting up of three bulk drug parks in the country.
Bulk drug parks are being promoted for domestic manufacture of active pharmaceutical ingredients, key
starting materials and drug intermediates used for the formulation of finished drugs.
The Indian pharmaceutical industry largely relies on exports of these materials and the central government floated the scheme to push the industry towards greater self-reliance.
Mr. Thakur said that if the proposed park in Una is selected under the scheme, it will strengthen the state's economy and provide more employment opportunities to its residents.
He said that Himachal is home to the largest pharmaceutical manufacturing hub in Asia which produces about 49 percent of the India's total drug formulations.
The webinar was attended by representatives from some major pharma companies including Zydus Cadila, Dr Reddy's Laboratories, Sun Pharma, Laurus Labs, and also the Bulk Drug Manufacturers' Association.
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