Lucknow, Sep 26 (IANS): In a major shot in the arm for Uttar Pradesh government, the Centre has approved, in principle, the proposal for setting up a sprawling Medical Devices Park in Yamuna Expressway Industrial Development Authority (YEIDA) area.
In a letter dated September 24, the Department of Pharmaceuticals in the Ministry of Chemicals and Fertilisers has sought a Detailed Project Report (DPR) from the State Government by December 23 for "further appraisal and final approval" of the project.
According to the government spokesman, the UP Government had sent a proposal for setting up a Medical Devices Park to the central government on October 9, 2020.
The proposed park will be spread over an area of 350 acres in YEIDA area.
The establishment of the park assumes great significance in view of the ongoing coronavirus pandemic that saw shortage of raw materials for medicines in the country at one stage.
The Medical Devices Park, to be built in two phases, will bring in an investment of Rs 5,250 crore and provide employment to more than 20,000 people.
The park will be the first Medical Devices Park in UP and the largest in north India, making Uttar Pradesh the new hub of pharmaceutical products and medical equipment manufacturing in India.
YEIDA has already earmarked 350 acres of land for the park in Sector-28 of Noida.
An incubation centre will also be built on five acres of land at the Medical Devices Park, benefiting start-up companies.
YEIDA has tied up with IIT Kanpur for the construction of the incubation centre.
It is worth mentioning here that despite having the third largest pharmaceutical industry in the world, India is still dependent on China for the raw materials of medicines.
In some of the medicines, India's dependence on China for raw materials ranges from 80 to 100 per cent.
The Yogi Government also sought allotment of two bulk pharmaceutical, or medical device parks to UP for the favourable environment created for investors due to the new industrial and pharma policy of the central government.