'MP Makes Global Mark In Pharma & Medical Devices Manufacturing Sector'

'MP Makes Global Mark In Pharma & Medical Devices Manufacturing Sector'

The contribution of this sector to the state's exports increased to 20.5 percent in FY 2022, which is extremely helpful in furthering economic growth.

FP News ServiceUpdated: Sunday, March 03, 2024, 10:17 AM IST
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Senior government officials and entrepreneurs during a discussion session in Ujjain on Saturday | FP PHOTO

Ujjain (Madhya Pradesh): Detailed discussion was held on the better opportunities in the pharmaceutical and medical devices manufacturing sector in Madhya Pradesh during the Regional Industries Conclave (RIC), concluded here on Saturday. Additional chief secretary, health, Mohammad Suleman; secretary, health, Sudam Khade; COO, PD Hinduja Hospitals, Joy Chakraborty; managing director and CEO, IPCA Laboratories Ltd, Ajit Kumar Jain; joint managing director, Shreeji Polymers Medical Devices Pvt Ltd, Vishnu Jaju; CEO, Rini Life Sciences, Akshat Kordia; Vikrant Parashar of Ncube Ethics and a large number of investors were present.

In the session, big industrialists of the health sector highlighted the suitable conditions for this business in the state and said that Madhya Pradesh is creating new records in the pharmaceutical and medical equipment manufacturing sector. With advanced technology and simple investment policy, Madhya Pradesh is making its global mark in this important sector. It was told in the session that India’s dominance in the global pharmaceutical market is undisputed and in this scenario, Madhya Pradesh stands out with its strong ecosystem.

The state has a network of over 270 pharmaceutical units, including 39 API/bulk drug manufacturing units, of which over 50 units adhere to WHO-GMP standards. These establishments are not only catering to the domestic market but are also exporting their products to more than 160 countries across the world. The contribution of this sector to the state's exports increased to 20.5 percent in FY 2022, which is extremely helpful in furthering economic growth. 

The pharmaceutical power of the state has further increased with the development of pharma parks. These parks will serve as incubators for innovation. These will provide state-of-the-art infrastructure and a conducive environment for research development. Apart from this, big drug companies like Sun Pharma, Lupine, Glenmark, Cipla, Mylan, Dabur, Aristo, and IPCA are starting their operations in the state.

Madhya Pradesh is strengthening itself as a pharmaceutical powerhouse on the global stage. An action plan has been made to export about 50 percent of India's pharma products from Madhya Pradesh by the year 2030.  It was informed in the session that the global market of medical devices is witnessing a boom and India is becoming a leader in this sector through the 'Make in India' initiative.

Schemes like production-linked incentives (PLI) and medical promotion are being availed. Under the Devices Park Scheme, the state government is encouraging large-scale manufacturing and facilitating investment in sub-sectors. One of the four Medical Device (MD) Parks proposed by the Government of India has been set up in Madhya Pradesh, which explains the rapid emergence of the state as medical devices manufacturing hub with its existing engineering and plastics ecosystem. In line with its progress in pharmaceuticals, Madhya Pradesh is rapidly establishing itself as a medical device production hub. 

Vishal Vikram Udyogpuri Limited, Ujjain’s Medical Device Park spread over 360 acres and offering affordable land and infrastructure is indicative of the state’s support. With focus on various sectors like medical imaging, implant manufacturing, surgical equipment and wearables, Madhya Pradesh is creating a conducive environment for innovation and investment. It was told in the session that the emergence of Madhya Pradesh in the production of pharmaceuticals and medical devices is proof of its unwavering commitment towards innovation, investment and inclusive development. With a conducive ecosystem, visionary and ingenious policies and strategic initiatives, Madhya Pradesh is set to write a new chapter in India's industrial narrative, inspiring investors and stakeholders for a healthier and more prosperous future.

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