In the inspiring presence of Chief Minister Shri Bhupendra Patel in Gandhinagar on Wednesday, July 19th, the stakeholders of the Biotechnology Policy accomplished a remarkable feat by concluding MoUs worth ₹2000 crore in a single day for new investments in the state’s biotechnology sector. The MoU was signed by Science Technology Secretary Shri Vijay Nehra on behalf of the State Government.
Approximately 3,000 jobs are set to be created in the upcoming biotech industries as a result of this MoU. It was signed by a total of 15 companies, with 13 from Gujarat, and one from Maharashtra and one from Delhi.
The state government, under this policy, offers incentives including 25% CAPEX support, 15% OPEX support for five years, a 7% interest subsidy on bank loans, and employment support. The biotechnology policy, announced under the guidance of the Chief Minister, has received an excellent response from stakeholders.
The MoUs signed with the state government encompass various prominent companies, including Ambio Ltd from Maharashtra and Biotrends India Pvt Ltd from New Delhi, alongside several local industrial units in Gujarat. Notable companies such as Zydus Lifesciences, Concord Biotech, and Hester Biosciences Ltd. have committed investments totaling Rs. 1000 crores. Additionally, Meteoric Bio-Pharmaceutical Pvt. Ltd., a dynamic local technology player, has pledged investments of around Rs. 500 crores. The list further includes Endoc Biotech Pvt. Ltd., Gujarat Themis Biocene Ltd., Steviatech Life Pvt. Ltd., Celexis Biosciences Pvt. Ltd., Kaniva Bioscience Pvt. Ltd., and other significant industrial units.