Uttar Pradesh to get its first Pharma Park in Lalitpur district:
The Uttar Pradesh government has approved the establishment of the state’s first Pharma Park in Lalitpur district of Bundelkhand. The project will require the transfer of 1500 hectares of land from the Animal Husbandry Department to the Industrial Development Department. The government has allocated a budget of Rs 1560 crore for the development and provision of necessary facilities to investors in Lalitpur Pharma Park.
| Article and Schedule Quiz | Start Test! |
To begin with, a Detailed Project Report (DPR) will be prepared soon after selecting a consultant for the development of the Pharma Park. Entrepreneurs who establish units in the Pharma Park will benefit from a number of incentives, including a 100% exemption from stamp duty on land purchases, capital subsidies, labourer housing building, and and employment generation.
Medical Device Park in Gautam Buddha Nagar:
Apart from the Pharma Park, the Uttar Pradesh government is also setting up a Medical Device Park on 350 acres of land at the Yamuna Expressway Industrial Development Authority (YIDA) in Gautam Buddha Nagar. The park is located in Sector 28 of YIDA, where plots have been allotted to 50 entrepreneurs so far.
The government has made complete preparations to connect the Medical Device Park with metro, expressway, transport city, and bullet train. The Medical Device Park will also have a flatted plant with a common hydrant facility. In addition, a proposal has been made to establish a police station in the region to help entrepreneurs.
Investment proposals worth Rs 16,420 crore in the medical devices manufacturing sector:
The state has received investment proposals worth Rs 16,420 crore in the medical devices manufacturing sector at the Global Investors Summit (GIS) held in February this year. A total of 175 MoUs have been signed in this area, with most investors expressing their willingness to set up units in the Medical Device Park and Pharma Park.
Benefits for Entrepreneurs:
The government will provide various benefits to entrepreneurs who establish units in the Pharma Park and Medical Device Park, including a 100% exemption from stamp duty on property purchases, capital subsidies, and the development of labourer housing. The government aims to encourage investment in the medical devices manufacturing sector and create employment opportunities for the people of Uttar Pradesh.
