Maharashtra, a traditional hub of the Indian pharma industry, could face an uphill task to retain its decades-old dominance in this sector By Sachin Jagdale
Maharashtra has long been an Indian pharma hub. However, benefits offered by other states such as tax holidays, low-cost land, cheap electricity etc. have managed to lure away many renowned pharma companies from Maharashtra. Though the state is still a leader, others like Gujarat, Goa, Himachal Pradesh, Andhra Pradesh, Sikkim, Karnataka etc are leaving no stone unturned to raise their credit amongst the pharma players. Hence, Maharashtra is likely to face a tough time ahead to ensure that it remains ahead of the race.
Steps to lead
Pharma companies’ exit from the state is perhaps more visible since it has long been a hub for the sector. The emergence of different tax havens in the country have caused pharma companies to look beyond Maharashtra and this has given rise to the question, “Wasn’t the state proactive enough in addressing the needs of the pharma industry?” A detailed analysis reveals that while more could have been done, the state has introduced a few good measures for the pharma industry in the past few years.
Kapil Bhargava, Former Dy Drugs Controller (I) CDSCO and advisor to pharma companies in India, says, “I see the number of initiatives taken for e-governa