After abolishing the two sections of Article 370 related to Kashmir, the hope of industrial development of the state has increased considerably. There is a lot of potential for the development of the pharma industry in Jammu and Kashmir. Jammu is already its center and now the possibility of its development is being expressed in the entire state.
The market for pharma industry in Jammu and Kashmir is around Rs 1,200 to Rs 1,400 crore. In comparison, markets like Maharashtra and UP are about 20 times more. Jammu is a major center of the pharmaceutical industry and many companies like Lupine, Sun Pharma, Cadila Pharmaceuticals have factories here. There are about 50 such factories in Jammu, some of which are also local manufacturers.
Electricity is very cheap in Jammu and Kashmir
Today, when water crisis is going on in most places of the country and the cost of electricity is increasing, Jammu and Kashmir is much better in this case. Electricity is available in Jammu at around Rs 2 per unit, while electricity is available in other areas of the country at Rs 6 to 7 per unit. The reason for this is that there has been a lot of development of hydropower. Due to the cold weather here for most of the year, electricity consumption in Jammu and Kashmir is also low.
Those associated with the pharmaceutical industry believe that the development of the pharma sector here depends to a large extent on what kind of incentives the government gives to potential investors and what measures are taken to maintain peace and stability.The cold weather is also very favorable for the pharmaceutical industry, as it offers an ideal environment for the production of vaccines considered to be temperature sensitive.
At present, most of the pharmaceutical factories in this area make medicines related to acute care. About 65-70% of these factories are in major therapies like gastrointestinal and antibiotics. Talking about serious diseases, most medicines are related to cordiology, which has a big market here. Most of the pharmaceutical companies operate from Jammu and some from Srinagar.
Awaiting policy initiative
People associated with the pharmaceutical industry say that they will adopt a policy of waiting for something before furthering their investment plan. Now everyone’s eye is on the central government, what kind of convenience it gives to attract investors.
Significantly, on Monday, Home Minister Amit Shah presented the resolution to remove Article 370 in the House. After the approval of the President, only section-1 of the Article 370 applicable in Kashmir is left, the remaining provisions have been removed. Apart from this, a proposal for restructuring Jammu and Kashmir was also approved under the new provision, under which Jammu and Kashmir has now become a union territory and Ladakh has been separated from Jammu and Kashmir.