As a policy driven state, the state is expanding the scope of development in the industrial sector including agriculture, service sector and new age biotechnology sector. The state government has announced the Biotechnology Policy 2022-27. Under this policy, the state government provides incentives like 25 percent capex support, 15 percent opex support for five years, 7 percent interest subsidy on bank loans and employment support. This Biotechnology Policy has received good response from the stakeholders.
About 3 thousand jobs will be created in future
In the presence of Chief Minister Bhupendra Patel, an MoU worth Rs 2,000 crore was signed in a single day for new investment in the biotechnology sector in the state. Science Technology Secretary Vijay Nehra signed the MoU on behalf of the state government. A total of 15 companies, including 13 from Gujarat and one each from Maharashtra and Delhi, will create about 3,000 jobs in upcoming biotech industries through this MoU.
These companies signed MoU with the state government
The MoUs that have been signed with the state government include Ambio Limited of Maharashtra and Biotrends India Pvt Ltd of New Delhi, besides local industrial units of Gujarat, Zydus Lifesciences, Concord Biotech and Hester Biosciences Limited, worth about 1 thousand crores. is the investment of A committed investment of around 500 crores by Meteoric Bio-Pharmaceutical Pvt Ltd, a new age homegrown technology company and participation from Endoc Biotech Pvt Ltd, Gujarat Themis Bioscene Ltd, Steviatech Life Pvt Ltd, Selexis Biosciences Pvt. Ltd., Kaniwa Bioscience Pvt. Ltd. and other industrial units are also included.
Gujarat Biotechnology University is also functioning
The MoU mainly covers investment in fermentation based APIs and biofertilizers sector and new areas like preseason fermentation, animal tissue culture. These industries will be launched in the coming days in different districts of the state from Kutch and Devbhumidwarka to Vapi-Valsad. Gujarat State Biotechnology Mission GSBTM has been appointed as the nodal agency. In addition, Gujarat Biotechnology Research Center GBRC and Savli Technology and Business Incubator STBI near Vadodara and Gujarat Biotechnology University in GIFT City are also functioning.
