17 MoUs signed inviting investment of Rs. 2110 Crore: CM

Shimla (QNN)

Industries Minister inaugurates Himachal Pavilion Expo in Mumbai

Chief Minister, Thakur Sukhvinder Singh Sukhu said here today that the State Government participated in the country’s largest pharma-expo and 17 Memorandum of Understanding (MoUs) amounting to Rs. 2110 crore were signed on this occasion.

The Chief Minister has expressed his pleasure on the intent of investors to invest in the state. He assured full support and commitment by the State Government to facilitate the investors in grounding of the proposed projects in a time bound manner, thereby ensuring that Himachal always remains the preferred investment destination.

Himachal Pradesh showcased the pharma ecosystem of the state to invite potential pharma devices players for investments in upcoming Bulk Drug Park and Medical Devices Park in the State. Himachal Pradesh is the only State in the country which is developing both 1405.41 acres Bulk Drug Park at Una and 300 acres Medical Devices Park at Nalagarh.

Industries Minister, Harshwardhan Chauhan inaugurated the ‘Himachal Pavilion’ at Pharma Live Expo, Mumbai on Thursday. MLA, Shudhir Sharma, Suresh Kumar, Malender Rajan, Ajay Solanki, Principal Secretary Industries, R.D. Nazeem, Additional Director Industries, Tilak Raj Sharma, Joint Director Industries, Anshul Dhiman, General Manager E&Y, Sakshi Satti and Project Lead E&Y, Sumit Sagar Dogra and officers of industries department were also present on the occasion.

Organizers of Indian Drug Manufacturing Association (IDMA) and Himachal Drug Manufacturing Association (HDMA) honoured the Industries Minister.

Industries Minister evinced keen interest to visit the stalls that displayed innovative and new technology and also appreciated the efforts of the Himachal based units participating in the Expo. He said that the state government will provide liberal incentives and highly subsidized utility rates for manufacturers in the Bulk Drug Park and Medical Devices Park.

Harshwardhan Chauhan also briefed about the State’s pharma ecosystem, emphasizing the successful working of more than 630 pharma manufacturing units, exporting pharma formulations worth Rs. 10,000 crore.  He also highlighted the need for Active Pharmaceutical Ingredient (API) manufacturing in the State, as there is an annual demand for bulk drug worth Rs. 35,000 crore. This will not only provide impetus to the pharma ecosystem but also save precious foreign exchange through import substitution.

Government to Business (G2B) meetings were also held with big pharma players such as Aishwarya India Healthcare, Scott Edil, Emcure, DBP Pharma group expressed their intent to setup their industrial units in the upcoming Bulk Drug Park and Medical Devices Park. Lupin Limited, one of the biggest pharma players also met the government delegation and expressed its interest in setting up a fermentation-based API unit in the upcoming Bulk Drug Park.

It is also worth mentioning that leading Director and Producer of Film Industry, Anil Sharma also expressed his intent to set-up a film city in the Himachal Pradesh. Industries Minister invited him to come with a concrete proposal for investment in the state.

The new management of Sukam Power Systems also expressed its will to invest Rs. 300 crore in Electric Vehicle and its components project.

Earlier, MoUs were signed by the Director Industries, Rakesh Kumar Prajapati on the behalf of state government with heads of various industrial houses.