With the amendments, the new policy will rule out several reliefs to companies manufacturing active pharmaceutical ingredients (APIs) as raw materials. Due to this, big pharmaceutical majors from India and abroad engaged in manufacturing will be interested in investing in UP.
It is worth noting that every year, more than Rs 40,000 crores of medicines and medical equipment are used in Uttar Pradesh but the state and its consumers are dependent on other states for medicines. In view of this, Chief Minister Yogi Adityanath had rolled out a Pharmaceutical Policy in 2018 which aimed at providing necessary to big pharmaceutical companies for manufacturing medicines in the state.
Along with this, it was decided to set up a Medical Device Park and a Bulk Drug Park across the state.
After the introduction of the said policy and backed by government efforts, approval for setting up of Medical Device Park in Noida was received from the Central government last month. Now, North India’s largest Medical Device Park will be built on 350 acres of land in Sector 28 of Yamuna Expressway Development Authority (YEIDA). An Investment of Rs 5,250 crore is expected to be made through the MDP and more than 20,000 people are expected to get EMPLOYMENT.