Govt tries to rope in Rs 1500 cr investment in Pharma sector in JK
Srinagar, May 28: Minister for Commerce and Industry, Surjit Singh Salathia today said the Valley offered favourable climate and environment for the cultivation of medicinal and aromatic plants.
Speaking at a conference on ‘Bio-Pharma Hub: Advantage Jammu and Kashmir’ here, the minister said in the recent years a large number of big and small Pharma companies have shown interest in the State and investment for the sector is in the pipeline.
“We are trying to rope in investment worth Rs. 1500 crores in Pharma sector which in turn would generate about 3000 jobs”, he said.
Slathia said the government provided attractive incentives to the entrepreneurs under a liberal industrial policy which includes 100 percent subsidy on installation of testing and quality control equipment to the tune of 25 lakhs.
It also provides 25 percent of the total capital investment, 30 percent subsidy on the pollution control equipments to the level of 20 lakhs and 100 percent subsidy on pre-investment studies and preparation of feasibility reports to the level of 20 lakhs, he said.
The conference was organized by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) in collaboration with J&K SIDCO.
“The variety of flora and fauna available in the state provides a great platform the pharmaceutical industry for the Research and Development to,” he said.
He said over the past few years, a very large number of small-scale companies had set up their base in J&K.
Co-Chairman ASSOCHAM, Harinder Sikka, Senior Advisor United Nations Office for Partnerships, Babu Lal Jain and Director Emcure Pharmaceuticals, Satish Koul also addressed the workshop.
Lastupdate on : Fri, 28 May 2010 21:30:00 Makkah time
Lastupdate on : Fri, 28 May 2010 18:30:00 GMT
Lastupdate on : Sat, 29 May 2010 00:00:00 IST
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