Gujarat FDCA Nods 133 New Drug Manufacturing Units in FY24

The development of the pharmaceutical sector in Gujarat has proceeded unabated in the monetary year 2023-24, with the Gujarat State Food and Drug Control Administration (FDCA) giving 133 endorsements for allopathic medication manufacturing plants.

This denotes a huge achievement, with record venture responsibilities surpassing Rs 10,000 crore, as many organizations intend to contribute more than Rs 500 crore each. Industry specialists accept that the number of new plants has diminished compared with the COVID-19 time frame. However, the state is getting super present-day export-oriented plants.

H G Koshia, commissioner of Gujarat state FDCA, said, “We have approved 133 new allopathic medicine plants in the last financial year, the highest in India. This underscores Gujarat’s position as a pharmaceutical hub, and these plants are poised to commence operations soon.”

From March 2019, 627 new plants have been endorsed in Gujarat, demonstrating its progress towards becoming a drug store for the world.  

“The FDCA approved 199 projects in 2020-21, 156 projects in 2021-22 and 139 projects in 2022-23. In terms of investments, 2023-24 has been the best. We expect investments of more than Rs 10,000 crore for new plants. The highest commitment of Rs 2,200 crore has been made by a multi-national company while several others plan to invest at least Rs 500 crore each to set up new plants in the state.”

Additionally, the last Dynamic Gujarat culmination saw north of 270 MoUs esteemed at roughly Rs 38,000 crore, with organizations expected to present their arrangements post-land acquisition.