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Chhattisgarh is establishing a 141.84-acre pharmaceutical park in Naya Raipur's Sector-22, aiming to position itself as a central hub for pharmaceutical innovation and investment. Spearheaded by the Chhattisgarh State Industrial Development Corporation (CSIDC), the park will feature advanced infrastructure, including a flatted factory complex and a CETP. Supported by the 2024-30 industrial policy, incentives include SGST reimbursements, grants up to INR 300 crore, and tax exemptions. The park aligns with state healthcare initiatives like the Shaheed Veer Narayan Singh Ayushman Health Scheme, bolstering local employment and production of essential medicines, while attracting domestic and international investors.
Chhattisgarh is taking significant steps to establish itself as a key player in the pharmaceutical industry in central India. The Naya Raipur Atal Nagar Development Authority has allocated 141.84 acres in Sector-22 for a new pharmaceutical park, aimed at boosting research, development, and attracting international investment in the sector. This initiative is part of a broader strategy to enhance healthcare services and make them more accessible to the people of Chhattisgarh. Advertisement
The Chhattisgarh State Industrial Development Corporation (CSIDC) is spearheading the development of this pharmaceutical park. State officials believe that creating this facility will not only meet the rising demand for healthcare products but also generate local employment opportunities. The state government's new industrial policy for 2024-30 supports this initiative by offering various incentives to pharmaceutical companies, including significant financial grants and tax benefits.
The spokesperson for the state government highlighted the importance of this project in the context of healthcare. Currently, the Shaheed Veer Narayan Singh Ayushman Health Scheme provides free treatment up to INR 5 lakh for 77.20 lakh families in Chhattisgarh, with plans to increase this limit to INR 10 lakh. The new pharmaceutical park will support the production of essential healthcare products, including traditional Ayush remedies, and will feature modern infrastructure such as a flatted factory complex and a common effluent treatment plant (CETP).
To attract investment, the state government is offering substantial financial incentives. For large-scale pharmaceutical projects, there is a 100% reimbursement on net SGST paid for the first 12 years of operation. Additionally, grants are available based on the amount invested: INR 60 crore for investments between INR 50-200 crore, INR 150 crore for investments between INR 200-500 crore, and INR 300 crore for investments exceeding INR 500 crore. Other benefits include a 12-year exemption on electricity charges, waivers on stamp duty, and reimbursement of registration fees and new electricity connection charges.
Chhattisgarh's strategic location in central India, along with its commitment to improving healthcare services, positions it well to attract both domestic and international pharmaceutical companies. As the state invests in this sector, it aims not only to enhance its economic growth but also to improve the health and well-being of its residents. The establishment of the pharmaceutical park is expected to create a competitive environment that encourages innovation and growth in the industry, ultimately benefiting the wider community.
With these developments, Chhattisgarh is set to become a significant player in the pharmaceutical landscape, addressing both local healthcare needs and contributing to global supply chains. As the project moves forward, it will be crucial to monitor its impact on job creation and healthcare accessibility in the region.
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