Business
PM Modi Lays Foundation Stone Of Rs 1,900 Crore Bulk Drug Park Project In Himachal's Una
PM Modi
Prime Minister Narendra Modi on Thursday (13 October) laid the foundation stone of the bulk drug park project in Himachal's Una.
According to the Prime Minister's Office (PMO), the Bulk Drug Park at Haroli in Una district will be built at a cost of over Rs 1900 crore.
The PMO said that the park will help reduce dependence on active pharmaceutical ingredients (APIs) imports, and is expected to attract investment of around Rs 10,000 crore and provide employment to more than 20,000 people.
The API refers to an active ingredient that is contained in the medication and produce the required effect on the body to treat a condition.
Further, the park will also give a fillip to economic activities in the region, the PMO said.
Earlier last month, the Centre had granted ‘in-principle’ approval to the proposals for setting up three bulk drug parks in Himachal Pradesh, Gujarat and Andhra Pradesh.
The scheme for promotion of bulk drug parks was notified in 2020 with a financial outlay of Rs 3,000 crore.
It provides for financial assistance to three states for establishing Bulk drug parks and aims to bring down the cost of manufacturing of bulk drugs by creation of world class common infrastructure facilities supported by the Centre and thereby increase the competitiveness of the domestic bulk drug industry.
The bulk drug parks to be developed under the scheme will provide common infrastructure facilities at one place thereby creating a robust ecosystem for the bulk drug manufacturing in the country and also reducing the manufacturing cost significantly.
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