The State of Jharkhand has created a conducive eco-system for manufacturing industry, has identified Pharmaceutical sector as Thrust Sector in its Industrial Policy.
Cost-competitiveness, availability of infrastructure, natural resources, a sound policy and regulatory environment are the key factors for Jharkhand to attract investments in Pharma sector.
To realize the aspirations, the state government has decided to approach development of Pharma sector by:
Tapping the grant from Micro Small Enterprises – Cluster Development Programme- (MSE-CDP) scheme.
Developing a dedicated pharma estate/park in and around and attracting investments into the proposed estate/park
Barhe village, Chahno block, Bijupara in Ranchi
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Pharmaceutical Industry in Jharkhand…Tapping the Unexplored market
Jharkhand Pharmaceutical industry is rapidly growing at a faster pace. The market value of the Industry in the state is around Rs 896 Cr in FY15 and it has grown to Rs 1248 Cr in FY17.
The market has grown on average of 18% during last 3 years.
The state is contributing ~5% of East Indian Market and 1% of whole Indian Pharmaceutical Market.
Anti infective, Gastrointestinals medicines occupies major market share i.e.,17% & 14% share and growing at 12%, & 17% respectively. Followed by Cardic medicines with 10%, Respiratory medicines with 9% of market share.