Chief Minister Dr. Mohan Yadav said that Madhya Pradesh offers wide-ranging opportunities for investment in the pharma, biotech and medical device sectors. He said the state government aims to develop a complete value chain covering drug manufacturing, active pharmaceutical ingredients (APIs), research, testing and medical device production. The state’s central location, established industrial clusters, skilled workforce and investment incentives provide a strong foundation for this expansion.
Chief Minister Dr. Yadav interacted with leading pharma industry representatives at a roundtable in Mumbai, where investment opportunities in pharma manufacturing, R&D, exports and new technology-based projects were discussed.
Madhya Pradesh to Play Strong Role in India’s Pharma Growth
Chief Minister Dr. Yadav said that India is recognised as the “Pharmacy of the World”, with Indian medicines reaching more than 200 global markets. India’s pharmaceutical exports stood at US$30.47 billion in FY 2024-25. He said Madhya Pradesh is an emerging and reliable partner in this national growth story.
Chief Minister Dr. Yadav said that pharma products manufactured in Madhya Pradesh reach more than 160 countries. The state recorded pharma exports worth around ₹11,889 crore in 2023-24. He said the existing manufacturing base and access to international markets create significant opportunities for new investment projects.
Over 300 Pharma Companies, Established Clusters and Skilled Workforce
Chief Minister Dr. Yadav said that Madhya Pradesh has more than 300 pharma companies and over 30 API and bulk drug manufacturers. Pharma clusters have developed across Indore, Pithampur-Dhar, Bhopal-Raisen, Ujjain, Gwalior, Jabalpur, Dewas, Bhind and Morena. The Indore cluster has more than 96 pharma units, Pithampur-Dhar more than 57 and Bhopal-Raisen more than 36.
Chief Minister Dr. Yadav said that the state has 40 medical colleges, more than 200 pharmacy colleges and over 140 engineering colleges. He said that investors have access not only to land but also to trained manpower, transport connectivity and markets. This industrial ecosystem supports expansion in manufacturing as well as research and technology-based activities.
Investment Proposals Progressing Towards Production
Chief Minister Dr. Yadav said that 54 pharma investment proposals have been received over the last 18 months, involving proposed investments of nearly ₹19,477 crore and the potential to generate around 18,646 jobs. Land has already been allotted for 34 projects involving proposed investments of around ₹12,306 crore, with approximately 10,298 jobs expected to be created.
Chief Minister Dr. Yadav said that 14 units have commenced production during the same period. New pharma and life sciences units in Indore, Dewas, Ujjain, Bhopal, Dhar, Raisen, Sehore, Gwalior and Bhind are contributing to industrial development across the state.
Policy Incentives for Investment, Research and Quality
Chief Minister Dr. Yadav said that the Industrial Promotion Policy-2025 identifies pharma, biotech and medical devices as focus sectors. Eligible fixed capital investment is eligible for Basic Investment Promotion Assistance (BIPA) of up to 40 per cent. A multiplier of 1.3 times has also been provided for APIs, bulk drugs and medical devices.
Chief Minister Dr. Yadav said that companies can receive assistance of 50 per cent of expenditure on in-house R&D, along with separate assistance of up to ₹1 crore each for testing laboratories and quality certification. Independent R&D centres are eligible for assistance of 25 per cent of fixed capital investment, up to ₹25 crore.
Chief Minister Dr. Yadav said export-oriented units can receive 50 per cent assistance on freight costs for five years, subject to a maximum of ₹2 crore. These provisions are aimed at promoting investment, research, quality and exports in the pharma sector.
Focus on Green Manufacturing and Advanced Technology
Chief Minister Dr. Yadav said that assistance of up to ₹5 crore is available for waste management and up to ₹10 crore for zero liquid discharge systems to promote environmentally sustainable manufacturing. Assistance of up to ₹5 crore can be provided for infrastructure development on private land, while technology transfer is eligible for support of up to ₹1 crore.
Chief Minister Dr. Yadav said that the state is prioritising research, quality and environmentally sustainable production alongside the expansion of the pharma industry. These provisions will help industries adopt modern production processes and strengthen their technological capabilities.
Investment Opportunities Expanding at Vikram Udyogpuri Medical Device Park
Chief Minister Dr. Yadav said that 57 units have been allotted land at the Medical Device Park in Vikram Udyogpuri, Ujjain, of which 17 have commenced production. The park has the potential to attract investment of around ₹2,374.86 crore and generate approximately 9,625 jobs.
Chief Minister Dr. Yadav said that the Medical Device Park is emerging as an important base for expanding medical device manufacturing in the state. Growth in pharma and medical device manufacturing will create new opportunities in production, technical services and local employment.
Mega Industrial Park in Ratlam to Support Next-Generation Pharma Investment
Chief Minister Dr. Yadav said that a Mega Industrial Park is being developed over 1,666.3 hectares in Ratlam, with priority being given to investments in pharma, biotech and chemicals.
Chief Minister Dr. Yadav said that the state government aims to develop a complete value chain covering APIs and finished medicines as well as vaccines, injectables, biotechnology, cell and gene therapies, medical devices, testing, R&D and contract manufacturing. This will expand opportunities for high-skilled employment and production for global markets.
Leading Pharma Companies Participate in Roundtable
Representatives of leading pharma companies engaged in drug manufacturing, APIs, branded and generic medicines, specialty drugs and research participated in the roundtable.
Chief Minister Dr. Yadav heard the views of industry representatives on investment opportunities in Madhya Pradesh. Several investors expressed interest in expanding their presence in the state, citing its policies, resources and other facilities.
Dr. Tony Parmar, Secretary General of the Indian Drug Manufacturers’ Association (IDMA), said senior representatives from the pharma industry participated in the meeting and expressed interest in investing in Madhya Pradesh. He said the industry would work with the state to contribute to the country’s development goals.
NQUBE Ethicals Managing Director Mehul Shah represents a company specialising in the development and manufacture of topical medicines such as creams, ointments, gels and lotions. The company also undertakes product development and contract manufacturing for international markets.
Ipca Managing Director Ajit Kumar Jain represents a company engaged in the manufacture of APIs and finished pharmaceutical formulations, with products spanning therapeutic areas including pain management, cardiovascular diseases, malaria and anti-infective treatments.
Ajanta Pharma Chairman Satish Agarwal represents a company engaged in the development, manufacture and marketing of branded generic and generic medicines, with key therapeutic areas including ophthalmology, dermatology, cardiology and pain management.
Lupin Director K. R. Gupta represents a company with expertise in generic and branded medicines, complex generics, biosimilars and APIs. Both Ajanta Pharma and Lupin have a presence in Indian as well as international markets.
MacLeods Pharmaceuticals operates across therapeutic areas including anti-infectives, tuberculosis, HIV, cardiovascular diseases and diabetes. Amoli CEO Rupesh Kamdar represents a company engaged in the production of APIs and intermediates used in pharmaceutical manufacturing.
Gufic Biosciences specialises in specialty pharmaceutical products, including injectables and lyophilised medicines.
S. Kant Healthcare is engaged in the manufacture and marketing of healthcare products and pharmaceutical formulations. Blue Cross Laboratories develops, manufactures and markets branded medicines across various therapeutic areas. Representatives of Dymac Industries and Emil Pharma were also invited to the interaction.
Senior management representatives from Cipla, Glenmark and Alkem were also proposed to participate. Cipla has a broad portfolio covering respiratory diseases, chronic therapies and anti-infectives. Glenmark is a research-driven company with key focus areas including respiratory diseases, dermatology and oncology. Alkem operates across anti-infectives, gastrointestinal therapies, pain management, vitamins and chronic-care segments.
IDMA Secretary General Dr. Tony Parmar was also invited to the roundtable. IDMA represents Indian drug manufacturers and engages with the government and regulatory authorities on policy, quality, manufacturing, pricing and industry development issues.
