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15 companies signed MoUs worth ₹2000 crore, in a day, for investments in the biotech sector

Successful results of the Biotechnology Policy 2022-27 announced by Hon’ble Chief Minister Shri Bhupendra Patel

Around 3,000 new employment opportunities

The state government is committed to nurturing the biotech ecosystem

Gandhinagar, Wednesday 19 July: 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.

Under the visionary leadership of Chief Minister Shri Bhupendra Patel, the state is embracing a policy-driven approach to expand its development in key sectors. The industrial sector, encompassing agriculture, the service sector, and the new-age biotechnology sector, is witnessing remarkable growth. In line with this commitment, the state government announced the Biotechnology Policy 2022-27 under the guidance of the Chief Minister.

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.

The MoU primarily focuses on investments in the fermentation-based APIS and bio fertilizers sector, as well as emerging fields such as precision fermentation and animal tissue cultivation. Moreover, these industries are scheduled to commence operations in the upcoming days across various districts of the state, ranging from Kutch and Devbhumidwarka to Vapi-Valsad.

Under the leadership of Chief Minister Shri Bhupendra Patel, the state government is dedicated to nurturing the entire ecosystem of the biotechnology sector, recognizing its emergence in the new era. To fulfil this commitment, the Gujarat State Biotechnology Mission (GSBTM) has been appointed as a nodal agency. Additionally, operational entities like the Gujarat Biotechnology Research Centre (GBRC), Savli Technology and Business Incubator (STBI) near Vadodara, and Gujarat Biotechnology University at GIFT City are contributing to this endeavor.

The state government aims to provide Gujarat with world-class facilities for research and development, employment generation, and academic courses in the biotechnology sector. In this pursuit, the investments made through these 15 MoUs will serve as a stepping stone.

Chief Principal Secretary to the Chief Minister Shri K. Kailashnathan, Additional Chief Secretary to CM Shri Pankaj Joshi, Additional Chief Secretary of Industries Department Shri S. J. Haider, Science Technology Secretary Shri Vijay Nehra, Industries Commissioner Shri Sandip Sagale and various industrialists were present during the event.

Source: Information Department, Gujarat