PHARMACEUTICAL AND MEDICAL DEVICES
Pharmaceutical and Medical Devices
Key Sector Highlights
- Market Size of Pharmaceuticals is INR 4000 Cr. (USD 0.5 Billion) in 2019-20
- Over 250+ pharmaceutical industries. 35 of them have WHO GMP (good manufacturing practices), which makes them eligible for the export of drug formulations.
- Medical devices cluster in Haryana focuses on the manufacturing of low-end consumables and dental equipment.
- Faridabad, Ballabgarh and Bawal are home to manufacturing facilities of key medical devices companies
- The State has 45+ medical devices manufacturing companies.
- The State intends to establish a Medical Device Park at Panipat. Govt. will provide common facilities such as Common Cluster Lab and Common Effluent Treatment Plant for this Park
- The State is also planning to setup a Bulk Drug Park at Hisar
- Dedicated Sectoral policy i.e. Haryana Pharmaceutical Policy, 2019
Key Sector Incentives
|SGST Subsidy||Upto 100% of net SGST Reimbursement for upto 10 Years|
|Employment Generation Subsidy||Subsidy upto INR 48,000/- per year per employee for 7 years|
|Interest Subsidy||6% on term loan for upto 7 years upto INR 20 Lakh|
|Stamp Duty Refund||Upto 100% refund of stamp duty|
|EDC Charges||Upto 100% reimbursement of External Development Charges|
|Electricity Duty Exemption||100% Exemption from payment of Electricity duty for upto 20 years|
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