Lalitpur, NFAPost: The Uttar Pradesh government has recently approved the establishment of the state’s first Pharma Park in the Lalitpur district of Bundelkhand. The project requires the transfer of 1500 hectares of land from the Animal Husbandry Department to the Industrial Development Department, and the government has allocated a budget of Rs 1560 crore for the development and provision of necessary facilities to investors in Lalitpur Pharma Park.
After selecting a consultant, a Detailed Project Report (DPR) will be prepared soon for the development of the Pharma Park. Entrepreneurs who set up units in the Pharma Park will receive several benefits, including a 100% exemption in stamp duty on land purchase, capital subsidy, construction of houses for labourers, and employment generation.
In addition to the Pharma Park, the Uttar Pradesh government is also setting up a Medical Device Park on 350 acres of land at the Yamuna Expressway Industrial Development Authority (YIDA) in Gautam Buddha Nagar. The park is located in Sector 28 of YIDA, where plots have already been allotted to 50 entrepreneurs.
The government has made complete preparations to connect the Medical Device Park with various transport options like the metro, expressway, transport city, and bullet train. A flatted factory with a common hydrant facility will also be constructed in the Medical Device Park. Additionally, a police station proposal has been made in the area to help entrepreneurs.
The state has received investment proposals worth Rs 16,420 crore in the medical devices manufacturing sector at the Global Investors Summit (GIS) held in February this year. A total of 175 MoUs have been signed in this area, with most investors expressing their willingness to set up units in the Medical Device Park and Pharma Park.
Entrepreneurs setting up units in the Pharma Park and Medical Device Park will receive several benefits from the government, including a 100% exemption in stamp duty on land purchase, capital subsidy, and construction of houses for labourers. The government’s goal is to encourage investment in the medical devices manufacturing sector and create employment opportunities for the people of Uttar Pradesh.
