Pharma Park & new Pharma Policy to ease business opportunities in Jharkhand

Jharkhand is establishing itself as the emerging investment hub of India. With the launch of the Jharkhand Industrial and Investment Promotion Policy 2021, the commitment to provide the best investment environment in the state have further strengthened . The government led by Chief Minister Shri Hemant Soren is tapping every opportunity to attract investment in the state. The state is ready to explore opportunities in the fields beyond mines and mineral-based industries.

With this spirit, the state has opened doors to Eastern India’s largest Electronic Manufacturing Cluster in Adityapur near Jamshedpur and now the government is on the way to open doors for investors to the dedicated Pharma Park in Chanho near capital city Ranchi.

* Pharma Park & new Pharma Policy to ease business opportunities

The Department of Industries is developing a Pharma Park and a Food Processing Park in the Chanho Block of Ranchi. The department has reserved an open area of 35 acres for the creation of Pharma Park. As per the plan, the government has reserved 55 plots for allocation to micro, small, medium and large-scale Pharma industries. Out of these 55 plots, 30 plots are reserved for the micro pharma industry, 14 plots for small units, 7 plots for medium units and 4 plots are reserved for large scale Pharma production units.

The Pharma Park will be equipped with all the necessary infrastructure facilities including an administrative building, a canteen, an Utility Center, ETP, a road network, drainage system, bridges, street lights and many more.

Additionally, the department is also working on the draft of a New Pharma policy to attract investors from across the nation. During the recently held Investors’ Meet, interested investors raised their concern about the lack of provisions for medical equipment manufacturers in the old Pharma policy, on which, the Chief Minister Shri Soren assured them of solution and directed officials to work on drafting a dedicated Pharma Policy and include necessary incentive provisions for medical equipment manufacturers. He also directed officials to include provisions for plot allocation for medical equipment manufacturers in the upcoming Pharma Park.

The Chief Minister said that we are working on paving way for industries to come and establish their plants and generate employment in Jharkhand. We are working on creating an investor-friendly environment and our effort is to take Jharkhand upward in the category of leading states of India.

* JIIPP 2021 manages investment commitment worth Rs 10,000 Cr

In the last week of August 2021, Chief Minister Shri Hemant Soren was in Delhi to attend the Investors’ Meet, organized by the Department of Industries, Jharkhand. On the first day of the two-day event, the Chief Minister held a round table meeting with Business Groups, one to one meeting with the representatives from the big industrial houses, whereas the second day of the event majorly witnessed the launch of Jharkhand Industrial and Investment Promotion Policy 2021 with investment MoU worth Rs 10,000 crore with companies like SAIL, TATA, Aadhunik, Dalmia and others.