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.

Key Initiatives

  • 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


INCENTIVE DETAILS
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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