Ahmedabad, Aug 17 (KNN) The Gujarat government will soon initiate the tender process for Jambusar’s bulk drug park’s common facilities and land allotment to the companies, reported TOI.

The 2,000-acre bulk drug park will be instrumental in ensuring domestic production of key starting materials (KSM), Active Pharma Ingredients (API) and pharma intermediates, which are currently imported from China.

As per Indian Drug Manufacturers' Association (IDMA) estimates, the park will have 400 companies and see an investment of over Rs 8,000 crore.

IDMA president Viranchi Shah said, "Gujarat is India's pharma hub with around 28 per cent share in exports and 32 per cent share in total production.”

“Common facilities like nitrogen utility, Common Effluent Treatment Plant (CETP), solvent recovery, training facility, testing and research facility and common steam utility will be set up and tendering process will be started soon. We hope the common facilities will be set up by end of the current financial year,” he said.

IDMA Gujarat treasurer Atul Shah said, "Around 400 companies are expected to set up their facility in the bulk drug park, manufacturing around 51 products like Amoxicillin, Azythromycin, Cephalexin, Metaformin, Vitamin B1 and B6 and Acyclovir. Common facilities will be provided by the government so the manufacturing cost will reduce and we will be able to compete China in pricing."

The Indian pharma market, including domestic demand and exports, is sized at around Rs 4 lakh crore. The industry registered 5.1 per cent growth in exports in the first quarter of 2023-24 but its dependence on raw material has increased over the years.  (KNN Bureau)