Odisha Targets ₹25,000 Cr Manufacturing Growth With Pharma Policy

Odisha has introduced a new policy on the pharmaceutical and medical device manufacturers. It seeks to expand the manufacturing and introduce 25000 crore investment by 2030.

The policy was released during the Odisha Pharma Summit and demonstrates how the state will be a powerful manufacturing center of drugs and medical equipment in eastern India.

This policy is oriented to the increased production of bulk drugs, drug designs, active ingredients (APIs), tests, and medical equipment. This contributes towards lessening the level of India having to import medical equipment. Odisha is pushing the local production to build the supply chain and expand the industry in the future.

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New industries and businesses associated with the policy are expected to generate more than 100,000 jobs, both directly and indirectly, by the government. To ease the entry barrier, the policy offers funding assistance in the form of money to purchase plants and equipment, assistance in power building and reduced land expenses in case of a job creation within the area. These assist in reducing startup expenses and render projects more sustainable to makers.

Infrastructure construction is important. Odisha will establish special Pharma and MedTech Parks, which are of good quality (GMP) in large industrial regions. These clusters will assist the companies in doing all form of acquiring raw materials up to the making, testing and packing and will enable them to grow at a higher rate.

Initially, the industry has reacted positively and approximately 5000 crore has been committed at the summit. Odisha is cheap, has good policies, good infrastructure, and growth in the long term to companies that desire to grow or introduce new products.