The state government’s plan to establish a pharmaceutical park near Indore is almost final as 2,000 hectares of land has been identified for the purpose. The state government will send it to union government for approval shortly.
As per plan, manufacture of medical equipment will be given top priority. There are number of medicine manufacturers in and around Indore besides Ratlam and Mandideep (Bhopal). Feedback with investors held during the corona lockdown suggested that there is ample of scope to manufacture medical equipment.
Sources in the department said about three dozen investors expressed willingness to establish manufacturing units though state government has set a target to have 50 investors to make the project feasible.
Recent developments in China have encouraged investors to shift away from there. Certain investors who manufacture different kinds of hospital beds have expressed willingness to set up a unit in MP. At present, equipment are imported from China.
The process for identification of land for pharmaceutical park has been completed. State government is in process of appointing consultants for it. Consultants will act as facilitators on behalf of state government and rope in manufacturers of drugs, medicines and equipment.
Though the state government has set up IT Park, Food Processing Park etc, a pharmaceutical park hasn’t been set up. Setting up of such parks attracts investors because the government provides separate facilities and subsidies for them.
‘If the Pharmaceutical Park is set up with about three dozen investors it is expected to provide employment to about 50,000 people. This will not only boost local economy but would be very beneficial for the state as well,’ said an official from the department of industrial policy and investment promotion.