To woo investors, Jharkhand to soon announce new pharma policy

Ranchi, Sep 14 IANS) The Jharkhand government is grabbing every opportunity to attract investments to the state and is exploring opportunities in fields beyond mines and mineral-based industries.

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 state capital Ranchi.

"The Department of Industries is developing a Pharma Park and a Food Processing Park at the Chanho Block of Ranchi. The department has reserved an open area of 35 acres for the creation of a 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" a government official told IANS.

The Pharma Park will be equipped with all the infrastructure facilities including an administrative building, a canteen, a utility centre, ETP, road network, drainage system, bridges, streetlights and many more.

In addition, the department is also working on the draft of a new pharma policy to attract investors from other states. At the recently held Investors' Meet, investors raised concerns about the lack of provisions for medical equipment manufacturers in the old pharma policy. Chief Minister Hemant Soren assured them of a solution and directed officials to work on drafting a dedicated Pharma Policy with incentives for medical equipment manufacturers. He also directed the officials to include provisions for plot allocation to the manufacturers in the upcoming Pharma Park.

The Chief Minister said that the government is working on paving the way for industries to come and establish their plants and generate employment in Jharkhand. He said that the government is trying to create an investor-friendly environment and the aim is to take Jharkhand upward in the category of leading states of India.

In the last week of August, Soren was in Delhi to attend the Investors' Meet organised 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 and one to one meetings with representatives from the big industrial houses. The second day of the event witnessed the launch of the Jharkhand Industrial and Investment Promotion Policy 2021 with investment MoUs worth Rs 10,000 crore signed with companies like SAIL, TATA, Aadhunik, Dalmia and others.