Odisha launches Pharmaceutical and Medical Devices Policy 2025, eyes Rs 25000 cr investment
Bhubaneswar: Odisha has thrown its hat into India's pharma and medical devices race with launch of the Pharmaceutical and Medical Devices Policy-2025 aimed at attracting Rs 25,000 crore in investments and creating one lakh jobs by 2030.
With 85 per cent of medical devices still imported into the country, the opportunity for domestic production is massive, Industries Department Additional Chief Secretary Hemant Sharma said.
As a lot of units of pharmaceutical and medical devices are expected to come up in the next five years, Odisha must make an attempt to become a part of this endeavour, Sharma said.
Chief Minister Mohan Charan Majhi launched the policy at the Odisha Pharma Summit-2025, held in the presence of Industries Minister Sampad Chandra Swain and senior government officials, PTI reported.
Under the policy, the state offers a 50 per cent subsidy on concessional land cost for units employing more than 200 Odisha-domiciled skilled staff.
The government also offered a 30 per cent capital subsidy on eligible plant and machinery (disbursed up to 6 per cent per annum for 5 years), without any upper cap, while a 25 per cent subsidy (capped at Rs 1 crore) will be given for dedicated power infrastructure, another official said.
The objective of the new policy is to fast-track Odisha as the eastern hub for pharmaceuticals and medical devices through investment, jobs, innovation and green manufacturing, he stated.
"The policy is expected to bring an investment of Rs 25,000 crore and generate direct and indirect employment for 1 lakh individuals by 2030," he said.
MoUs worth Rs 5,000 crore have been signed on Tuesday itself, the official said.
The policy also aims to attract investment and catalyse local entrepreneurship and MSME growth, while generating employment across skilled and semi-skilled segments.
Anchored in the state's Industrial Policy Resolution (IPR) - 2022, which identifies pharmaceuticals, bulk drugs and medical devices as a thrust sector, the policy promotes infrastructure readiness, research excellence, industry-academia collaboration for skilling and a facilitative regulatory environment to enable inclusive and sustainable industrial development, another official said.
The state will set up an Odisha Pharma Park and an Odisha MedTech Park (over 200 acres each) as integrated, good manufacturing practices (GMP)-ready clusters, he said.
The policy combines land, finance, skilled workforce, regulatory facilitation and R&D support to attract anchor investments across active pharmaceutical ingredients (APIs), formulations, vaccines, diagnostics, imaging, implants and wearables - positioning Odisha as a competitive, sustainable manufacturing and innovation destination.
It covers pharmaceuticals - APIs, bulk drugs, formulations, vaccines, biologicals and biosimilars, veterinary drugs and animal vaccines, nutraceuticals, and cosmetics classified as drugs; and Medical Devices - in-vitro diagnostics (IVD), implants, surgical consumables, instruments and apparatus, medical wearables, digital health devices and device software, the official added.
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