Shimla: The Narendra Modi government has approved a new Rs 1200 crore bulk drug pharma park for poll-bound Himachal Pradesh which is among the three such parks coming up in the country to reduce dependence on pharmaceutical imports from China.
The Centre will invest Rs 1,000 crore in the infrastructure for the park to come up in Una–a district bordering Punjab and the state’s pharma hub— Baddi. The investment is expected to be a game-changer for the economy of the hill state.
Confirming the news, state Chief Minister Jai Ram Thakur said the park will attract mega investments to the tune of Rs 8000-10,000 crore. It will have a potential to provide employment avenues to 15,000-20,000 persons. The power requirement for the park is about 100-120 MW. The state being surplus in power generation will be able to easily meet the entire need.
The Chief Minister conveyed his gratitude to Prime Minister Narendra Modi and the Government of India for the allocation of the Bulk Drug Pharma Park
Jai Ram Thakur said, “It is indeed a momentous moment for Himachal Pradesh 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”
The prime objectives of allocating the bulk drug pharma park to Himachal Pradesh and other states are augmenting domestic manufacturing to ensure drug security and reduce the dependence of bulk drugs on China. Currently China accounts for close to 70% of India’s bulk drug imports.
The state government had started identifying the required parcel of land during the outbreak of the Covid-19 outbreak. Finally, it selected a land parcel measuring 1,405 acres at Polian, Tibbin, Malluwal in Tehsil Haroli of Una district.
He said that the park would provide more employment opportunities to the youth and strengthen the economy of the state.
Availability of water and power at lowest tariffs in India and presence of an industrial gas pipeline make Himachal Pradesh the most suitable place for investment in the pharma sector.
The state has more than 600 pharmaceutical companies located at Baddi-Barotiwala-Nalagarh currently meeting 42 to 45 percent of India’s drug formulations demand , which makes the state as Asia’s largest hub. It has an annual turnover of Rs 40,000 crore, including Rs 10,000 crore worth exports.
The pharmaceutical companies located in Himachal Pradesh have an annual demand of Rs 30,000 crore raw material. The setting up of the park is going to give a greater sustainability and viability to the existing drug manufacturing units.
The park, says state’s Chief Secretary R D Dhiman, would also cater to the Active Pharmaceutical Ingredients (API) needs of the country as a whole, particularly of northern India. Himachal Pradesh is the hub of science graduates and would meet the skilled manpower requirement of this park in a comfortable manner.
Apart from this, other socio-economic activities related to this project such as housing, township, vehicle requirement of park etc would have multiplier and multidimensional effect on State economy. It is also certain that this park would attract huge investment in the backward and forward activities such as packaging and pharma formulation
Some of the leading pharma groups located in the state are Cipla, Dr Reddy’s Lab, Cadila Healthcare, Abbott Laboratories, Ranbaxy, Glenmark, Acme formulation and Morepen .
During the earlier NDA regime led by Prime Minister Atal Bihari Vajpayee, Himachal Pradesh (besides Uttarakhand and Jammu and Kashmir) was granted 10-year central industrial package at the behest of then Chief Minister Prem Kumar Dhumal. The package was partially withdrawn later when the UPA returned to power under Dr Manmohan Singh due to pressures mounted by other states, including Punjab and Haryana.
The BJP is bound to encash on ‘Bulk Drug Park’ in the upcoming elections–a prime benefactor of the double engine government at the centre and the state.
