Karnataka unveils a new pharma policy
The policy aims to provide ready-to-use infrastructure for establishing pharmaceutical enterprises on cluster concept.
Bengaluru, March 7, 2013: Karnataka has unveiled a new pharmaceutical policy in the State in order to provide a ready-to-use infrastructure for establishing pharmaceutical enterprises on cluster concept by way of pharma parks.
It is believed that the new policy will make Karnataka vibrant for the pharma sector and will make readily available manpower through inclusive development approach. As per the policy, the focus would be on development of the human resources and providing marketing support to Karnataka-based companies though price preference in government tenders.
The policy is expected to attract pharma companies with a provision to attract small and medium enterprises by way of providing incentives to these companies. There are incentives like exemption from stamp duty, concessional registration charges, waiver of conversion fine and exemption from entry tax which can be offered to the MSMEs in order to make Karnataka a primary location to set up manufacturing facilities.