Approved by Jharkhand Government, a pharma park will be built at Barhe village in Chanho block near the state capital, Ranchi. Estimated cost of building the pharma park is Rs. 34.94 crore. State government will be contributing Rs 13.47 crore of this estimated cost. The 50 acres pharma park would be increasing the state’s share in the pharmaceutical industry of the nation. Currently Jharkhand’s share in the pharma business stands at just one per cent. While, its share across eastern India is also meagre at five percent only.
Pharmaceutical companies interested in investing in the upcoming pharma park would be getting government benefits like:
• Provision of up to 20 per cent subsidy on project investment
• 100 per cent exemption on stamp duty and registration
• Assistance of up to Rs 10 lakh on quality certification
• Rebate of Rs 10 lakh on patent registration
• 75-80 per cent rebate in GST filings with a five per cent interest subsidy
Government of Jharkhand will be equipping the pharma park with a research facility, incubation centre, and data management system. It will have administrative buildings, banks, post offices, and an open space of 1.59 acres as well.
