Bhubaneswar: The Odisha government has drafted a Pharmaceutical Policy 2016 to make Odisha the top destination for pharmaceutical sector investments in East India.
The policy will be unveiled at the ‘Make In Odisha’ conclave to be held from November 30 to December 2.
The policy has been prepared in consultation with the directorate of drugs control, industry representatives and other experts in the field. The policy will provide incentives and exemptions in conjunction with any other applicable existing policy of the state and Centre. It will provide fiscal and non-fiscal benefits in a transparent and time bound manner.
Establishment of specialized pharmaceutical parks with best-in-class infrastructure and technology will be the policy’s main aim.
Developers of greenfield pharmaceutical clusters will be eligible for a grant of up to 50 percent of the infrastructure cost with a ceiling of Rs 10 crores per park or cluster as per the operational guidelines on a capital grant to support quality infrastructure under Industrial Policy Resolution (IPR) 2015, said the draft policy.
In the case of upgradation of existing parks and clusters, the government will provide a similar support of up to 50 percent of the total cost with a ceiling of Rs 5 crore provide the park or cluster or estate is user-managed, the sources said.
The investors, who adopt practices to ensure zero waste water discharge, will get the additional support of Rs 2 crore or 50 percent of the capital cost (whichever is less). The government will also provide an annual grant of Rs 50 lakh for collaboration with academia towards Research and Development (R&D) projects, which will be monitored by the state directorate of drugs control, sources added.
The government has also made provisions for subsidy on power tariff. The subsidy will be provided considering the investment and employment generation through that particular project, they said.
For every person trained and recruited in the unit, the state government will reimburse the training cost within a period of three years.