Karnataka unveils pharma policy, eyes rapid sectoral growth
The policy was released at a function here late last evening by state's Health and Family Welfare Minister Arvind Limbavali, in the presence of industry players, including Biocon CMD Kiran Mazumdar-Shaw.
"This policy makes Karnataka vibrant in pharmaceutical sector which is bound to create additional employment opportunities for the people of Karnataka through inclusive development approach," Limbavali said.
Focus would be on human resource development to make available readily employable manpower at all levels to the pharmaceutical sector, and marketing support to Karnataka- based companies through price preference in government
Other features of the policy include enhancing facilitation mechanism enabling investors to set up projects with ease and less transaction cost, and encouraging the
sector through various additional incentives and concessions.
The policy covers major segments of pharma sector --bulk drugs, drugs intermediate, bio-pharmaceuticals and formulations.
Karnataka Pharmaceutical Development Council (KPDC) would be constituted by the Government to serve as a single point contact for pharmaceutical sector.
"This council will extend all facilitation services for investors and act as a link between Government and investor. Investors will be provided handholding support and escort services from the council", according to the policy.
Drugs Controller of Karnataka, B R Jagashetty said while there would be special focus to attract pharmaceutical industries, provision of attractive incentives is in place to encourage micro, small and medium manufacturing enterprises.
"There are incentives like exemption
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