Karnataka to be home to 100-acre pharma park

 The Centre is planning to set up a pharma park in Karnataka as part of its efforts to boost the pharmaceutical sector in India, said Union Minister of Chemicals and Fertilisers Ananth Kumar.

Speaking at the inauguration of the India Pharma and India Medical Expo 2016, at the Bangalore International Exhibition Center (BIEC) here on Thursday, Kumar said, “The government is committed to the growth of the pharmaceutical sector in India. The Karnataka government has promised 100 acres of land for setting up of the pharma park in the state. There is also a proposal for a huge pharma park in Hyderabad in 350 acres also one in Rajasthan.”

The minister said that he was insisting on the Finance Ministry to announce the launch of three more National Institute of Pharmaceutical Education and Research (NIPER) in the upcoming Budget. “The Union Cabinet has given its approval to amend the existing FDI policy in the pharmaceutical sector, in order to cover medical devices. The Cabinet has allowed FDI up to 100 per cent under the automatic route for the manufacturing of medical devices subject to special conditions,” he said, emphasising on the need to make quality medicines available to the masses at affordable costs.

Speaking to Deccan Herald on the sidelines of the expo, Kumar said that the country, for the first time, might have a Ministry of Pharmaceuticals soon. “I have been pressing for it with Prime Minister Narendra Modi, and have received a positive response from him. So, we can expect a new ministry for pharmaceuticals soon,” he informed.

The two-day event, jointly organised by the Department of Pharmaceuticals, Government of India, and the Federation of Indian Chambers of Commerce and Industry (FICCI), was inaugurated in the presence of 600 delegates, including 60 CEOs from about 100 pharmaceutical and medical devices companies.