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Gireesh Babu, New Delhi September 02 , 2024
The investment intentions filed by the drugs and pharmaceuticals industry with the ministry of commerce and industry during the first five months of 2024 have witnessed a decline of 20 per cent.

The total investments reported by the industry have seen a decline of 3.5 per cent, as compared to the three-fold growth reported by the sector in the whole year of 2023, according to data from the Department for Promotion of Industry and Internal Trade (DPIIT).

The sector has witnessed a decline in the number of Part A acknowledgements of the Industrial Entrepreneur Memorandum (IEMs) issued by the Department to 16 in January to May, 2024 from 18 in the same period of last year. The investment intentions filed through these forms is a total of Rs 1,780 crore, almost 20 per cent down from the Rs 2,225 crore indicated in the same period of previous year.

The Part B acknowledgements issued by the Department shows a growth of almost 87 per cent to 28 in January to May, 2024, as compared to 15 in the same period of last year. However, the total investments made into the sector based on the Part B acknowledgements during the five months of this year was at Rs 3,303 crore, as compared to Rs 3,423 crore in the same period of previous year, reporting a 3.5 per cent decline.

According to DPIIT, industrial undertakings exempted from the requirements of industrial licensing under the Industries (Development and Regulation) Act I (D&R), 1951, are required to file information relating to setting up of industries and this is known as IEMs. The Department issues the receipt of such information through an IEM acknowledgement.

All industrial undertakings exempted from the requirements of industrial licensing under I (D&R) Act, 1951 and having an investment in plant and machinery of Rs 50 crore and above; OR turnover of Rs 250 crore and above, including Existing Units, New undertaking (NU) and New Article (NA), may file an IEM, i.e. "Form IEM" in the prescribed format 'Part A'.

All Industrial undertakings which had filed IEM are required to report commencement of commercial production and this is also filed on-line by way of filing information as per prescribed form 'Part B' of the IEM after commencement of commercial production by the establishment; a copy of the related IEM Acknowledgement is required to be attached while filing this information on the portal.

It may be noted that the investment intentions based on Part A acknowledgements during the year 2023 has seen a decline of 1.66 per cent to Rs 7,899 crore as compared to Rs 8,032 crore in the year 2022. The number of IEM Part A filings also declined to 37 from 53, during the comparable period.

Interestingly, the Part B acknowledgements filed during the whole year of 2023 have reported a growth of almost 43 per cent to 34, as compared to 23 in the previous year. The total investment as per the acknowledgements has reported almost three fold growth to Rs 9,483 crore in the year 2023, as compared to Rs 3,240 crore in the previous year.

During the month of May, 2024, the sector reported 11 Part B acknowledgements, and the actual investment stood at Rs 1,320 crore, which was second after the food processing industry which reported 20 IEM Part B filings with a total investment of Rs 2,750 crore. The investments into the pharma industry has resulted in actual employment of 3,300 persons during the month, according to data.

There were 5 Part A filings from the industry during the month of May, 2024, with a total intended investment of Rs 476 crore, expecting a total intended employment generation for 655 persons.

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