Madhya Pradesh to Attract More Pharma Investments with New Policy
prativad 
Bhopal, October 18, 2024: Madhya Pradesh is poised to become a pharmaceutical powerhouse, as the state government is set to introduce an attractive new pharma policy. Chief Minister Dr. Mohan Yadav announced this during his address at the 13th edition of India Chem 2024 in Mumbai.
The state is already a major player in the pharmaceutical sector, exporting medicines to over 160 countries. In the financial year 2023-24, Madhya Pradesh exported pharmaceutical products worth a whopping ₹11,889 crore. This remarkable growth can be attributed to the state's supportive ecosystem, which includes a robust infrastructure, skilled workforce, and a conducive business environment.
To further boost investments and expand its pharmaceutical footprint, the state government is actively working to create a "state-of-the-art petrochemical investment region." Major petrochemical projects, such as the Bharat Petroleum Corporation Limited's ₹50,000 crore project in Bina and GAIL India's ₹35,000 crore project, are underway, creating thousands of jobs.
Dr. Yadav emphasized the state's commitment to fostering growth in the chemical, pharma, petrochemical, and plastic industries. "We are a future-ready state," he said. "The state government's efforts in the chemicals and fertilizers sector will write a new chapter of development in the coming times."
Key highlights of the state's pharmaceutical industry:
- Over 275 pharma units operating in the state.
- Significant investments in petrochemical projects.
- Development of industrial parks for plastics, pharma, and biotech.
- Focus on skill development and training.
The Chief Minister also highlighted the state government's initiatives to attract investments, including regional industry conclaves and roadshows in major cities.
With its strategic location, abundant resources, and government support, Madhya Pradesh is well-positioned to become a global pharmaceutical hub. The new pharma policy is expected to further accelerate growth in this sector and create numerous job opportunities for the people of the state.
