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Uttar Pradesh to set up six pharma parks

Friday, 12 Oct 2018
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The Uttar Pradesh government is planning to open six pharma parks across the state. For this the government has received an investment intent of Rs 5,000-Rs 6,000 crore from domestic and multinational pharma companies.

The state is in talks with several multinational companies like Mylan, GE Healthcare, Pfizer and Sanofi along with domestic players for setting up pharma units in the state. The six pharma parks will be developed at Noida, Bundelkhand, Ghaziabad, Gorakhpur, Lucknow and Allahabad, which will help in achieving faster growth.

The government will allot 100 to 250 acre of land and offer incentives like free electricity, zero stamp duty and interest-free loan up to Rs 10 crore for the infrastructure development.

The government is also reimbursing for five to seven years the state GST component. For R&D support, it will provide capital-intensive subsidy in the form of reimbursement to 60 percent (up to Rs 50 lakh for the maximum unit).

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