Major Industries Minister J. Geetha Reddy on Friday said that the State government had cleared investment proposals to the tune of Rs.1.37 lakh crore over the past two-and-a half years and was keen on promoting the manufacturing sector.
Inaugurating a national conference on the pharma industry organised by Assocham here, she said the proposals were approved in four meetings of the State Investment Promotion Board (SIPB) since N. Kiran Kumar Reddy took over as Chief Minister. She said the CII Partnership Summit held in early 2012 was highly successful and 56 per cent of the proposals approved at that time were already implemented with an investment of Rs.60,000 crore.
She said the State government had taken a number of initiatives to promote the pharma sector and announced that the Centre had given the green signal to the Jawahar Pharma City in Visakhapatnam. As a result, individual pharma units coming up there need not seek fresh environmental clearance. The government had allotted 50-acre land free of cost for setting up NIPER (National Institute of Pharmaceutical Education and Research) in the second phase of Genome Valley.
Principal Secretary, Industries, K. Pradeep Chandra, said the government was planning to bring together all the stakeholders involved in pharma to discuss ways to boost the sector and translate research into commercial activity.
Shambhu Kallolikar, Joint Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers said that in a bid to promote small and medium pharma units, the Centre was proposing to have a cluster-based approach.
The government is willing to provide Rs.20 crore for each cluster and Hyderabad will be one of the beneficiaries of the scheme. Besides investing Rs.250 crore for setting up NIPER, the National Centre for Bulk Drug Research with an investment of Rs.100 crore will also come up here.
He urged the pharma industry to increase investment in R & D which was quite low at around four per cent of the total expenditure.
FAPCCI president Srinivas Ayyadevara urged the government to provide infrastructure and special incentives to pharma units which were being shifted out of the city on the grounds of pollution. R. Sannareddy, Chairman, Assocham, Southern Regional Council also spoke.
State government has cleared investment proposals to the tune of Rs.1.37 lakh crore, says Geetha Reddy