Chennai : With a noble vision to make Jharkhand as the “Pharmacy of East India”, the government of Jharkhand has rolled out the Jharkhand Industrial and Investment Promotion Policy (JIIPP) 2021 with priority for pharma sector.
The policy makers have identified pharma sector as one of the high priority areas because it has emerged as a key growth driver and attracted FDI worth over Rs. 3,000 crore in the period between April and September in 2020 alone.
The department of health and family welfare in the state is now in the preparation of an exclusive pharma policy on the basis of JIIPP to boost the pharma sector.
Briefing Pharmabiz about the pharma policy of Jharkhand, the deputy director at the department of drugs control administration, Suman Kumar Tiwari who is in-charge of pharma policy preparation, said in Jharkhand, there are 55 allopathic drug manufacturing units and one unit of medical devices are operating. Besides, 22 manufacturers produce ayurvedic products, nine companies manufacture homoeopathic drugs and three companies engage in cosmetic preparations. He said the state has all the potential for mineral drugs and drugs to be made from herbal sources.
When the state’s Ayurveda industry is supported by the forest department for cultivating and harvesting of medicinal plants and herbs, the medical devices sector is supported by the MSME units in the field of casting, moulding and machining. Suman Tiwari said the state’s pharma policy envisions a medical devices park, a bulk drug park and one life sciences park.
Government views that Jharkhand has all the natural advantages to become the pharma hub of East India and the proposed Pharma Park at Ranchi has 55 dedicated plots for MSME and non-MSME units. So, investors can invest in the pharma sector without any hesitation. The new pharma policy which is in the pipeline is based on this industrial vision, says Suman Tiwari.
“We are planning to generate 20 thousand direct employment opportunities and attract investment of over Rs. 2,000 crore during the policy period. With a renewed thrust on innovations, we are planning to attract investors for an investment of Rs. 2,000 crore during this period. The state will have a dedicated manufacturing base for biosimilars, vaccines and advanced medical devices (AMD). Meanwhile, steps will be taken to upgrade the technical standards of the existing companies and to enhance their capacities.
The officer in the rank of deputy director in the drugs control administration has stated that in Jharkhand and in the north eastern part of the country, there is little chance for pharma industry-academia relation. This area has to be developed. The pharma policy of Jharkhand envisions solution for this.