Development is actively underway for the planned pharmaceutical hub in Karasur, Pondicherry. The local drug manufacturers’ body, PDMA, has approached the government with a proposal asserting that 50 pharma companies in the region are prepared to back the project financially.
The Pondicherry Drug Manufacturers Association (PDMA) has committed Rs. 500 crore to the project from firms across different states.
In a submitted letter, the association has identified 25 corporations ready to invest and indicated interest from an additional 25 enterprises.
Besides local Pondicherry companies, pharmaceutical manufacturers from various parts of India have shown interest in this initiative. PDMA has also shared the names of potential investors from Rajasthan, Odisha, West Bengal, Bihar, Telangana, Karnataka, and Tamil Nadu with the government.
The government has earmarked 200 acres in Karasur Industrial Estate for this pharma park, delegating its development to the Pondicherry Industrial Promotion Development and Investment Corporation (PIPDIC). PIPDIC is in charge of the Karasur and Sederapet Industrial Estates’ infrastructure development. An official announcement regarding the park’s establishment from the Pondicherry government is anticipated soon.
E Srinivasan, PDMA’s general secretary, indicated that the project would attract Rs. 500 crore in investment and generate significant employment. He urged the government to expedite the ongoing infrastructure work, which is expected to conclude within six months. To commence, endorsements from the Pondicherry Planning Authority, Pollution Control Board, Electricity Board, Water Supply Department, Fire Service, Health Department, Industry Department, Labor Department, and other local bodies must be secured.
This initiative is projected to generate employment directly and indirectly for 20,000 people in the pharma park vicinity. It also promises to boost ancillary industries such as foil and carton manufacturing, printing, shipping, and transport. Srinivasan emphasized that this pharma park would significantly contribute to Pondicherry’s economic and employment growth.