Chandigarh-HUB of Pharma Companies
Why Chandigarh is a HUB of Pharma
companies? This article will help you understand this:
Himachal Pradesh is home to multiple
pharmaceutical companies who have established manufacturing plants and R&D
hubs in the state. The town Baddi in Solan district in Himachal Pradesh is Asia's biggest Pharmaceutical hub and is home to some of the
largest pharmaceutical companies such as Intas
Biopharmaceuticals, Cipla, Cadila Pharmaceuticals, Ajanta Pharma, Abbott Laboratories Ranbaxy Laboratories etc. besides hundreds of other companies. Besides Baddi,
there are many other smaller hubs in the state of Himachal Pradesh.
Manufacturing Units in Baddi
Baddi's fortunes began to change when tax
incentives were announced for the hill state of Himachal Pradesh in 2003 to
attract investments to special-category states. The major attractions for
investors included 100 per cent excise duty exemption for 10 years from the
date of commencement of commercial production (the budget for 2011-12
stipulated that it would apply to industries starting on or before March 31,
2007); 100 per cent income tax exemption for an initial period of five years
and 30 per cent thereafter for a further period of five years; and a capital
investment subsidy of 15 per cent on plant and machinery subject to a ceiling
of Rs 30 lakhs, applicable also to existing units. These incentives led to very
fast growth of Pharma manufacturing plants (besides many other industries) in
Baddi and other areas of Himachal Pradesh. Majority of the well established
pharmaceutical companies established their new plants here. In a similar
manner, these incentives led to establishments of pharmaceutical manufacturing
plants by entrepreneurs from the neighbouring states of Chandigarh, Punjab,
Haryana & Delhi. Ancillary industries also developed (though again
encouraged by these incentives) to cater to various input requirements of these
plants. Baddi developed faster than other areas because of its proximity to
Chandigarh & other plain areas and also because of establishment of
industrial parks by government.
Pharma Companies in Chandigarh
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| Pharma companies in Chandigarh |
Because
Chandigarh is situated in the footprints of Himachal Pradesh and is very close
to Pharma Manufacturing industry in Baddi, Chandigarh became hub of PCD Pharma companies. Better quality of life, availability of infrastructure and
not-so-expensive real estate attracted new entrepreneurs into establishing Pharma
marketing companies in Chandigarh besides attracting the promoters from Baddi
and other such areas to establish their marketing offices in Chandigarh. Over
the period, it has developed so much that every fourth PCD company in India belongs
to Chandigarh. Pharma companies in Chandigarh are very well known and have got
good revenue market share among the Pharma industry in India.
