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 |
Foreign Cooperation Department is responsible for the Haryana’s diplomacy, forging bilateral and multilateral ties at the international level, and assisting Haryanvi diaspora spread across the globe. The department has the mandate to promote Haryana as the most preferred destination for foreign investments in India, to advance Haryanvi culture, and to increase the welfare of the Haryanvi diaspora by furthering their interests through diplomacy, advocacy, and assistance. The Department strives to enhance the socio-economic welfare of the State and its people by establishing the State as a hub for industries, education, skill development, and tourism.
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