In a bid to make Andhra Pradesh as Pharma Hub, the Chief Minister YS Jagan Mohan Reddy has taken a crucial decision to set up Bulk Drug Park facility on 2000 acres of land in East Godavari District. Towards this end, the state government has given orders to speed up the project. At a time when the center is planning to set up three bulk drug parks across the country, the AP government has started making strenuous efforts to bring it to the AP.
The bulk drug park is expected to generate sales of Rs 46,400 crore and an investment of about Rs 6,940 crore in the next eight years. The AP Bulk Drug Infrastructure Corporation was set up as a subsidiary of APIIC as part of its efforts to acquire the Bulk Drug Park. The state government has also directed the senior officials to sign Memorandum of Understanding (MoU)s with CSIRs and IICTs as knowledge partners, including identifying private partners. Under the supervision of the Central Government, the park is likely to make the planned progress with the funds provided by the Center. The Jagan government is already trying to bring one of the 3 mega parks to the AP in the wake of competition between different states. The duty policies for the bulk drug park are also in favor of Andhra Pradesh.
The Central Government has announced guidelines for the development of bulk drug and medical device parks to promote domestic manufacturing. In this context, the Union Cabinet on March 12, 2020, approved a plan for the development of three bulk drugs and four medical device parks. In this, the government will extend grant-in-aid to states with a maximum limit of Rs 1,000 crore for bulk drugs. 100 crores for medical device parks, the Ministry of Chemicals and Fertilizers said in a statement. In this context, CM Jaganmohan Reddy hopes that bringing the bulk drug park to the AP will be like bringing a mega project, providing employment to the youth in the AP, and locking the mouths of the Opposition.
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