Hyderabad : The Government of Uttar Pradesh (GoUP), today announced that it will be organizing a ‘Pharma Conclave’ in Hyderabad on Thursday, January 18, 2024. The Conclave is being held in collaboration with the Bulk Drug Manufacturers Association of India, Indian Drug Manufacturers Association (IDMA) – TS and AP Chapter and other associationsto attract investments in the healthcare and pharmaceuticals sector in Uttar Pradesh.

The conference will primarilyfocus on sensitizing industry stakeholders on various incentives offered by the Government of Uttar Pradesh through its Industrial Policy and the Pharmaceutical Policy 2023. The event will also highlight the opportunities in pharmaceutical research and manufacturing, particularly in the upcoming Pharma Park in Lalitpur district and other parks.

Several distinguished pharmaceuticals industry leaders from Hyderabad, will participate in the event to convey their expectations from the Government of Uttar Pradesh.

The event will be graced by prominent industry captains, leadership and members of organizational bodies along with representation from regulatory authorities and other Pharma industry stakeholders.

GoUP has roped in Industry experts as Brand Ambassadors of Pharma Sector in Southern India to help attract the right investment in this sector.

With a focus on fostering pharmaceutical, generic medicines and medical devices industries in the state, the Government of Uttar Pradesh is setting up an exclusive bulk drug park in Lalitpur district with an investment outlay of Rs. 8,000 crore. The proposed bulk drug park is spread over 1,472 acres across five villages in the arid Bundelkhand region.

The Uttar Pradesh government’s policy framework provides single window clearance for regulatory approvals and incentives such as interest and capital subsidies and stamp duty exemption, creating an ideal environment for pharma parks and individual units, enhancing the state’s reputation as an investment-friendly destination.

Speaking about the event, Shri.Mayur Maheshwari, CEO-UPSIDA, GoUP, said, “Government of Uttar Pradesh will be seeking investments from healthcare and pharmaceutical companies from Hyderabad at the conclave. The conference will demonstrate several measures being taken by GoUP to attract healthcare and pharmaceuticals companies to the state by rapidly boosting the infrastructure required for the industry and the irresistible incentives for setting up their manufacturing and R&D facilities in the state.As part of the UP Pharmaceutical & Medical Device Industry Policy 2023, GoUP is providing a capital subsidy of 15% on investments up to Rs. 200 crore, 100% electricity duty exemption for 10 years, a 50% capital interest loan subsidy for procurement of plant & machinery and various waste management incentives for pharma units.Furthermore, GoUP policy provides 100% stamp duty exemption, incentives for R&D and innovation and a special package for units established in Bulk Drug Parks & Medical Devices Parks.”

The government of UP will be represented by its high-ranking officials – Dr. G N Singh, Advisor to Hon’ble Chief Minister, GoUP, Shri. Abhishek Prakash, CEO, InvestUP, GoUP and Shri Mayur Maheshwari, CEO-UPSIDA, GoUP at the conclave.

Currently, there are nine pharma parks and clusters located in GB Nagar, Ghaziabad, Kanpur Nagar, Lucknow, Meerut and Moradabad, with nearly 400 formulation units, 41 bulk drug units, 91 cosmetic units, 122 medical devices manufacturing units in Uttar Pradesh. The state received Rs. 3,000 crore in investments in the pharmaceuticals and medical devices sector and registered a growth of 38.2% in exports between FY16 and FY19.

The state has a strong foundation for the human resource pool essential for the sector, with 208 medical, biotechnology, and pharmacy colleges. It is home to 18 world-class pharmaceutical research institutes, including CSIR (Lucknow), NIB-Noida, IITR-Lucknow, King George Medical University–Lucknow, NBRI and many others.

Uttar Pradesh is the fourth largest state and second largest economy in the country,with the second highest number of MSME units, drawing 100% FDI for greenfield projects and 74% for brownfield ones.Uttar Pradesh has emerged as one of the most vibrant and progressive states of India in recent years. The state is striding ahead, unhindered, to attain a $1 trillion economy by FY 27-28, acclimatizing to the necessary transitions and bringing about a holistic transformation in all sectors, including healthcare&pharma.