Uttar Pradesh government is planning to develop six pharma parks across the state and has received an investment commitment of about ₹ 50-60 billion from domestic and multinational pharma companies. The government is in talks Mylan, GE, Pfizer and Sanofi along with domestic players for setting up pharma units in the state.
The pharma parks will be set up in Noida, Bundelkhand, Ghaziabad, Gorakhpur, Lucknow and Allahabad. The government will allot 100 to 250 acres of land and provide incentives such as free electricity, zero stamp duty and interest-free loan up to Rs 10 crore for the infrastructure development. It also plans to reimburse five to seven years of the state GST component.
With a market share of 30% market share in pharma manufacturing, UP government has also announced new pharma policy.
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