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  • Gujarat govt to start...

Gujarat govt to start tender process for Jambusar mega drug park soon

MD BureauWritten by MD Bureau Published On 17 Aug 2023 11:00 AM  |  Updated On 17 Aug 2023 11:01 AM
Gujarat govt to start tender process for Jambusar mega drug park soon
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The Indian Drug Manufacturers' Association envisions the park as a potential home for around 400 companies, attracting investments exceeding Rs 8000 crore.

Bharuch: The anticipated bulk drug park in Jambusar is set to witness accelerated progress, with the Gujarat government gearing up to initiate the tender process for the park's communal facilities and the allotment of land to companies in the near future.

Spanning a sprawling 2,000 acres, this upcoming park is poised to play a pivotal role in expediting the domestic production of critical Key Starting Materials (KSMs), Active Pharmaceutical Ingredients (API), and pharmaceutical intermediates -- commodities that are currently imported from China. The Indian Drug Manufacturers’ Association (IDMA) envisions the park as a potential home for around 400 companies, attracting investments exceeding Rs 8,000 crore.

Viranchi Shah, President of IDMA, underscored Gujarat's status as a pharmaceutical hub that significantly contributes to both the nation's exports and production capabilities. In a bid to reduce reliance on imported bulk drugs, the central government proposed the establishment of three bulk drug parks across India, one of which is slated for Jambusar.

The collective facilities within the park, including nitrogen utilities, a Common Effluent Treatment Plant (CETP), solvent recovery units, training centers, testing laboratories, and research spaces, are anticipated to become operational by the conclusion of the fiscal year.

The bulk drug park is anticipated to attract approximately 400 diverse companies engaged in the manufacturing of a wide array of pharmaceutical products. By leveraging the shared facilities provided by the government, production costs can be streamlined, enhancing competitiveness against the pricing strategies of Chinese counterparts.

Despite witnessing a notable 5.1 per cent growth in pharmaceutical exports during the initial quarter of the 2023–24 fiscal year, the industry's reliance on imported raw materials has augmented. Notably, imports of Active Pharmaceutical Ingredients (APIs) surged from $2,110 million in 2015-16 to $3,180 million in 2022-23, with a significant portion sourced from China.

Read also: India set to become global hub of medical technology, devices with the market size estimated to reach USD 50 billion by 2050: Dr Mandaviya

drug parkIndian Drug Manufacturers Associationbulk drug park
Source : IANS
MD Bureau
MD Bureau

    Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in.

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