UP Govt to host 'Pharma Conclave' in Hyderabad to boost investments
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Hyderabad: The Government of Uttar Pradesh (GoUP) will host a 'Pharma Conclave' here on January 18.
In collaboration with industry associations, the event aims to attract investments in the healthcare and pharmaceutical sectors in Uttar Pradesh, a statement said on Tuesday.
The conclave will focus on informing stakeholders about incentives provided by GoUP's Industrial and Pharmaceutical Policies. Key topics include opportunities in pharmaceutical research and manufacturing, with emphasis on the upcoming Pharma Park in Lalitpur district and other parks.
Distinguished pharmaceutical industry leaders from Hyderabad will participate to convey their expectations from the Uttar Pradesh government. The event will host industry captains, organizational leaders, regulatory authorities, and other stakeholders.
GoUP has enlisted industry experts as Brand Ambassadors of the Pharma Sector in Southern India to facilitate investment attraction. The government is actively promoting pharmaceutical, generic medicines, and medical devices industries, exemplified by the exclusive bulk drug park in Lalitpur district with an investment outlay of Rs. 8,000 crore.
The policy framework of Uttar Pradesh offers a single window clearance for regulatory approvals and various incentives, creating an investment-friendly environment.
Mayur Maheshwari, CEO-UPSIDA, GoUP, emphasized the state's commitment to attracting healthcare and pharmaceutical companies through infrastructure development and enticing incentives.
As part of the UP Pharmaceutical & Medical Device Industry Policy 2023, GoUP provides incentives like a 15 per cent capital subsidy, 100 per cent electricity duty exemption for 10 years, and a 50 per cent capital interest loan subsidy for plant & machinery procurement. Stamp duty exemption, R&D incentives, and a special package for units in Bulk Drug Parks & Medical Devices Parks are also offered.
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