NRANDA Allocates 141 Acres in Chhattisgarh for Pharmaceutical Park to Strengthen Healthcare Sector
Chhattisgarh is aiming to position itself as a key hub in the pharmaceutical industry within central India, focusing on creating a center for research, development, and international investment. The state’s government, through the Naya Raipur Atal Nagar Development Authority (NRANDA), has allocated 141.84 acres of land in Sector-22 to establish a pharmaceutical park. This initiative, facilitated by the Chhattisgarh State Industrial Development Corporation (CSIDC), is part of the state's broader efforts to strengthen the healthcare sector and attract both domestic and international investments.
The development of this pharmaceutical park aligns with the state government's objective of improving healthcare accessibility for its citizens. A key focus is to strengthen the healthcare system by ensuring a steady supply of pharmaceutical products to meet the growing domestic and global demand. The government believes that the park will encourage competition within the pharmaceutical sector, create job opportunities for local youth, and contribute to the state’s economic growth.
The new industrial policy for 2024-30, which offers a range of incentives to pharmaceutical industries, provides a strong foundation for this project. It includes significant benefits such as capital investment promotion, tax exemptions, and financial support for companies that set up in the park. These efforts are expected to stimulate the growth of the pharmaceutical sector in the region.
One of the standout features of the pharmaceutical park is its comprehensive infrastructure, designed to support pharmaceutical units, particularly those focused on Ayush products. The park will include a modern flatted factory complex, a common effluent treatment plant (CETP), and specialized research and development centres. These facilities will ensure that pharmaceutical companies have the necessary resources to operate efficiently and comply with regulatory standards. Additionally, the park will feature testing laboratories to support product development and quality control.
The Chhattisgarh government is offering significant financial incentives to encourage large-scale investments in the pharmaceutical park. The state offers 100% investment promotion for capital investments in pharmaceutical enterprises. This includes reimbursement of up to 100% of net SGST paid for the first 12 years from the start of commercial production or a capital investment grant. The grants are structured to encourage larger investments, with Rs 60 crore available for investments between Rs 50 crore and Rs 200 crore, Rs 150 crore for investments between Rs 200 crore and Rs 500 crore, and Rs 300 crore for investments exceeding Rs 500 crore.
Additional benefits under the new industrial policy include a 12-year exemption from electricity charges, a stamp duty waiver, and a 50% reimbursement on registration fees and new electricity connection charges. These incentives are designed to make the state an attractive destination for pharmaceutical companies looking to expand or establish a presence in central India.
The state government’s representative highlighted the importance of the pharmaceutical park in the broader context of Chhattisgarh’s health initiatives. The government’s Shaheed Veer Narayan Singh Ayushman Health Scheme currently provides free treatment to 77.20 lakh families in the state, with plans to increase the coverage to Rs 10 lakh per family in the near future. The establishment of the pharmaceutical park is expected to play a key role in supporting this health scheme by ensuring the timely availability of essential medicines and healthcare products.