Uttar Pradesh Government to Host Pharma Conclave in Hyderabad on January 18

The Government of Uttar Pradesh (GoUP) is set to organize a Pharma Conclave in Hyderabad on January 18, 2024, aimed at enlightening industry stakeholders about the incentives offered by Uttar Pradesh through its Industrial Policy and the Pharmaceutical Policy 2023.

In collaboration with the Bulk Drug Manufacturers Association (BDMA) of India, Indian Drug Manufacturers Association (IDMA) – Telangana and AP Chapter, and other associations, the conclave seeks to attract investments in the healthcare and pharmaceutical sector in Uttar Pradesh.

The conference will focus on creating awareness among industry stakeholders regarding various incentives provided by the Government of Uttar Pradesh, emphasizing opportunities in pharmaceutical research and manufacturing. Notably, the event will spotlight the prospects in the upcoming Pharma Park in Lalitpur district and other parks.

Distinguished leaders from the pharmaceutical industry in Hyderabad will participate to express their expectations from the Government of Uttar Pradesh. The event will be attended by industry captains, leadership, and members of organizational bodies, along with representation from regulatory authorities and other stakeholders in the Pharma industry.

To enhance its appeal, GoUP has enlisted industry experts as Brand Ambassadors for the Pharma Sector in Southern India, aiming to attract the right investments.

Uttar Pradesh is actively working to foster pharmaceutical, generic medicines, and medical devices industries. The government is establishing an exclusive bulk drug park in Lalitpur district with an investment outlay of ₹8,000 crore, covering 1,472 acres in the arid Bundelkhand region.

The state government's policy framework offers a single-window clearance for regulatory approvals and incentives, including interest and capital subsidies and stamp duty exemption. These measures create an ideal environment for pharma parks and individual units, bolstering the state's reputation as an investment-friendly destination.

The conclave will serve as a platform for the Government of Uttar Pradesh to seek investments from healthcare and pharmaceutical companies in Hyderabad, showcasing various measures taken to boost infrastructure and provide irresistible incentives for setting up manufacturing and R&D facilities in the state.

As part of the UP Pharmaceutical & Medical Device Industry Policy 2023, the GoUP provides a 15% capital subsidy on investments up to ₹200 crore, 100% electricity duty exemption for 10 years, a 50% capital interest loan subsidy for plant & machinery procurement, waste management incentives, 100% stamp duty exemption, R&D incentives, and a special package for units in Bulk Drug Parks & Medical Devices Parks.

High-ranking officials from the Government of UP, including Dr. G N Singh, Advisor to Hon’ble Chief Minister, Shri. Abhishek Prakash, CEO, InvestUP, and Shri Mayur Maheshwari, CEO-UPSIDA, will represent the government at the conclave.

Currently, Uttar Pradesh houses nine pharma parks and clusters in various locations, hosting nearly 400 formulation units, 41 bulk drug units, 91 cosmetic units, and 122 medical devices manufacturing units.

HBL