Gujarat Plans To Frame Exclusive Policy On Bulk Drugs, Medical Devices, And Formulation Parks

Based on the declaration made by the Union Chemicals and Fertilizers Minister Ananth Kumar recently to come out with exclusive policy on bulk drug parks, medical device parks, and formulation parks, the Gujarat government is awaiting the policy to address concerns over drug quality and over-dependence on importing in for APIs.

It is learned that commerce ministry and finance ministry are thinking about to come out with an exclusive policy on developing bulk drug parks, medical device parks and formulation parks in Gujarat going by the government’s order. India imports around 80% of the APIs. China is a preferred source for APIs as a result of low cost.

It got APIs worth Rs.13,853 crore from China in FY16, or 65.3% of the Rs.21,217 crore total. This includes ingredients for essential antibiotics. The industry has also raised concern over that as Indian companies are however losing out to China due to lack of help and incentives from the government to produce APIs.

The government of Maharashtra has also had discussions with drug manufacturers to explore the potential of Special Economic Zone (SEZ) in and around Multi-modular International Cargo Hub and Airport (MIHAN) at Nagpur to be developed as pharma hub. The project aims to misuse the central location of Nagpur and change over the present airport into a major cargo hub with integrated road and rail connectivity.

Gujarat Plans To Frame Exclusive Policy On Bulk Drugs, Medical Devices, And Formulation Parks

It consists of two parts, specifically an International airport to act as a cargo hub and an SEZ on the southern end of Nagpur. The state government is also planning to meet industry bodies for assist deliberations on the same.

Gujarat has also identified land for medical devices park and constituted a high-level committee of deliberate the process finalizing the procedures for setting it up. The committee is also responsible to discuss policy measures essential to arouse and make these parks financially important.

A medical device park is also particularly significant for Gujarat as the state has the largest number of 170 licensed medical device companies as against 240 in the entire country.

The park is stipulated to have common manufacturing facilities and will decrease capital consumption for projects by offering low-cost rentals and revenue support administrations, in this way enabling these units to be focused.

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