Uttarakhand to Establish Pharma and Auto Mobile Hub, Creating Jobs and Attracting 1500-2000 Crore Investments

With a 20% share in the country’s total drug production, Uttarakhand is becoming a hub for the pharmaceutical and auto mobile sectors. The state has established 249 pharmaceutical manufacturing units in industrial areas like Selaqui, Haridwar, Pantnagar, and Rudrapur.

The investor summit is expected to turn Uttarakhand into an auto mobile and pharma hub with new investments. Major companies like Mahindra & Mahindra, Tata Motors, Bajaj, Hero Motors, and Ashok Leyland have already made significant investments in Udham Singh Nagar district, specifically Pantnagar and Rudrapur.

The auto industry contributes around 7% to the state’s GDP, and there is significant participation in the export of auto mobile and pharma sectors. The investor summit aims to position Uttarakhand as an auto mobile and pharma hub by attracting new investments.

The state government is providing encouragement to the pharma and auto mobile sectors through the Global Investors Summit. The implementation of the new industrial policy has created a favorable environment for investment in the pharma and auto sectors.

The pharma sector in the state contributed to a turnover of approximately 15,000 crores in 2022, with the export of medicines worth 1150 crores. Numerous individuals are directly and indirectly associated with the pharma sector in terms of employment. This sector holds immense potential for investment and job creation.

To facilitate the clearance of applications from pharmaceutical manufacturers, regional offices of the Central Drug Standard Control Organization have been established in Uttarakhand. The central and state governments conduct joint inspections and issue approvals only after simplifying the application process through the introduction of online licensing procedures, ensuring high-quality standards for pharma companies.

Uttarakhand is rapidly advancing as a pharmaceutical manufacturing hub. Investors are ready to invest 1500-2000 crores in the state through the investor summit, providing new opportunities for existing industries. Pharma companies have to import raw materials, which increases transportation costs. If the government provides subsidies on transportation, Uttarakhand will lead the pharma sector throughout the country.

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