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Gujarat to get huge investments in pharma & medtech sectors as precursor to VGGS-2024: Dr H G Koshia
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Shardul Nautiyal, Mumbai
November 01 , 2023
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Gujarat is all set to get big ticket investments in pharma sector with over 220 MoUs worth Rs. 15,000 crore already in the process of getting approved, informed Gujarat Food and Drug Control Administration (FDCA) Commissioner Dr H G Koshia.
Over 220 MoUs worth Rs. 15,000 crore have been signed online through Investor Facilitation Portal (IFP) as a precursor to the Vibrant Gujarat Global Investor Summit (VGGS)-2024.
The 10th VGGS- 2024, which is the state government’s flagship investment summit, is likely to be held between January 11 and 13, 2024 after a five-year gap.
Dr. Koshia, who is also the Pharma Guardian Officer of Gujarat further informed that the pharma companies which are interested in investing in Gujarat can log on to the IFP and register with their respective names, addresses, the amount of investment, employment generation data and the detailed project report (DPR).
“After scrutinising the data and finding that the company is genuine, an online MoU certificate is issued by the Guardian Officer. MoU certificates are also awarded to the companies which are investing more than Rs. 100 crore by the hands of the Chief Minister of Gujarat,” Dr Koshia explained.
He further informed that MedTech companies from Japan are especially showing interest in investing in Gujarat. American MNC Procter & Gamble (P&G) is also in the process of making big ticket investments worth Rs. 2,000 crore in its premium psyllium husk based laxative drug product and Rs. 200 crore in its Vicks range of products.
P&G has given preference to set up a manufacturing base in Gujarat as it is the largest producer and processor of psyllium husk in the world. The company is planning to use the locally available psyllium husk grown abundantly in North Gujarat as the raw material for its laxative drug. This will then be exported globally making it a commercially viable venture. This will also enhance the export share of Gujarat globally. The manufacturing plant will be set up in Sanand, 25 km away from Ahmedabad.
Psyllium is a soluble, gel-forming, non-fermented fiber supplement which helps relieve both constipation and diarrhoea. It is also used to treat irritable bowel syndrome, haemorrhoids, and other intestinal problems. Psyllium is also used to help regulate blood sugar levels in people with diabetes.
Expanding its manufacturing base in Gujarat will give the P&G cost competitiveness and help Ease of Doing Business (EoDB) under a favourable business and regulatory environment of Gujarat.
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