Chief Minister Jai Ram Thakur has expressed gratitude to Prime Minister Narendra Modi and Government of India for allocation of Bulk Drug Pharma Park to the State. Expressing his pleasure for the allocation of bulk drug park to the State, Jai Ram Thakur said that it was indeed a momentous moment for Himachal to get this project of National importance, as it would ensure retention of pharma formulation units as well as create local employment opportunities for many years in the State. He said that the prime objectives of allocating bulk drug pharma park to Himachal Pradesh and other states are augmenting domestic manufacturing, ensuring drug security and reducing the dependency of bulk drug on China.
Jai Ram Thakur said that the Union Cabinet had approved the scheme of bulk Drug Park on 21st March, 2020 and subsequently guidelines were issued on 21st July, 2020 wherein evaluation criteria was prescribed for submitting the proposal. As per the guidelines, 90% of the project cost with the maximum limit of Rs 1000 crore was to be provided by Department of Pharmaceuticals (DoP), Government of India. During the Corona period, the State Government has started identifying the requisite parcel of land and finally selected land parcel measuring 1,405 acres at Polian, Tibbin, Malluwal Tehsil Haroli, district Una. He said that the estimated project cost of the park is about Rs 1200 crore, out of which Rs. 1000 crore will be funded by Government of India for development of common infrastructure facilities and expected investment in this park is about Rs.8000-10,000 crore. Expected direct employment potential is about 15,000-20,000 persons. Power requirement is about 100-120 mw.
He said that utility charges and additional incentives including power tariff at Rs. 3 per unit for ten years, zero maintenance charges and warehouse charges for ten years besides land rate at Rs. one per sq meter per annum for 33 years, stamp duty exemption, interest subvention at seven percent on term loan subject to maximum of Rs. 51 lakh per annum and 70 percent exemption on net SGST for ten years were offered in the proposal for ensuring high return of investment. It is worth mentioning that the Chief Minister had interacted with top pharma players before submitting the proposal to the Government of India. Consequently, the proposal of bulk Drug Park was approved by the committee headed by the Chief Minister before submitting to the Government of India, wherein highly competitive utility rates and liberal incentive were offered. The Chief Minister constantly keep on meeting with Prime Minister Narendra Modi and other ministers for the allocation of bulk Drug Park to Himachal Pradesh and now Chief Minister’s efforts brought fruitful results.
As it is fact that Himachal Pradesh is home to more than 600 pharma formulation units and annual demand of bulk drug in the State is about 30,000-35,000 crore per annum. Now this entire State; bulk drug demand would be met out from this park in a cost effective manner which would enhance the productivity and operational efficiency of pharma formulation units. Besides this park would also cater to the Active pharmaceutical Ingredients (API) needs of the country as a whole particularly of northern India. Himachal Pradesh is the hub of science graduates and would meet the skilled manpower requirement of this park in a comfortable manner. Apart from this, other socio-economic activities related to this project such as housing, township, vehicle requirement of park etc would have multiplier and multidimensional effect on State economy. It is also certain that this park would attract huge investment in the backward and forward activities such as packing, pharma formulation etc.
