Pharmaceuticals sector is likely to lead the table with business proposals worth Rs 8,000 cr
Local industry associations will sign Memorandum of Understand (MoU) for business expansion, environment protection, sharing of technical know-how, and facilitation of bilateral ties during the three-day Vibrant Gujarat Summit beginning January 18.
Pharmaceuticals sector is likely to lead the table with business proposals worth Rs 8,000 crore. Environment preservation and effluent treatment is the other sector where MoUs worth close to Rs 6,000 crore are likely to be inked.
Prevalent business slowdown has limited the ability of local industries to go for expansion. Only pharmaceuticals sector is in a position to expand business in the state. Hemant Koshia, Commissioner, Food and Drug Control Administration (FDCA), said that close to 270 business proposals, worth Rs 8,000 crore that will create 19,000 jobs, will be inked during the summit. Companies like Alembic Pharmaceutical Ltd, Emcure Pharmaceuticals Ltd, Corona Remedies, and Punsihka Healthcare Ltd will be the major companies committing investments.
Over 300 MoU are related to creation of infrastructure for primary and common treatment of effluents, said Yogesh Parikh, president of Gujarat Dyestuffs Manufactureres Association (GDMA). This includes a Rs 5,600 crore-pipeline beginning from Ahmedabad upto Veraval in Saurashtra for deep sea discharge of effluents. Augmentation of effluent treatment infrastructure will enable players in chemicals and associated sector to unlock manufacturing capacity. Naroda Enviro Projects Ltd will ink a MoU for Rs 15 crore with Common Effluent Treatment Plant (CETP) and for creation of underground cables for electricty, taking the total to Rs 50 crore.
GESIA IT Association, representing technologies in Gujarat, is also mulling an agreement with Taiwan External Trade Development Council (TAITRA) for facilitation of bilateral cooperation in investment. Gujarat Chamber of Commerce and Industry (GCCI) will ink MoUs with its counterparts within the country and abroad for facilitation of bilateral trade and investment. It will also partner with Indian Institute of Chemical Technology, Hyderabad for sharing of technology and know how for local players.
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