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Tamil Nadu Attracts Global Pharma Leaders

Tamil Nadu Attracts Global Pharma Leaders

Tamil Nadu is emerging as a significant hub for the pharmaceutical and biotechnology industries, drawing substantial investments from global leaders. The state’s strategic initiatives and investor-friendly policies have been pivotal in this development.

In a notable move, Pfizer established a global drug development center at the IIT-Madras Research Park in Chennai, investing approximately ₹150 crore (around $20 million). This facility focuses on the development of innovative formulations and drug delivery systems, underscoring Tamil Nadu’s growing prominence in pharmaceutical research and development.

The Tamil Nadu government has been proactive in attracting such investments. Chief Minister M.K. Stalin reached out to global pharmaceutical executives, highlighting the state’s advantages, including a skilled workforce, robust infrastructure, and supportive policies. This outreach is part of a broader strategy to position Tamil Nadu as a preferred destination for pharmaceutical manufacturing and research.

The state’s industrial policy offers incentives for sectors like pharmaceuticals and biotechnology, aiming to attract investments worth ₹10 lakh crore (approximately $135 billion) between 2020 and 2025. The policy also focuses on creating employment opportunities and increasing the manufacturing sector’s contribution to the state’s Gross State Value Added (GSVA).

Tamil Nadu’s participation in international events, such as the Swiss Biotech Day in Basel, Switzerland, further showcases its commitment to integrating into the global biotechnology ecosystem. These efforts are designed to attract high-quality investments and enhance research and development capabilities within the state.

The cumulative effect of these initiatives is evident in the state’s foreign direct investment (FDI) inflows. Between October 2019 and September 2023, Tamil Nadu attracted nearly $10 billion in FDI, ranking fourth among Indian states. This influx of capital is expected to further boost the pharmaceutical and biotechnology sectors, contributing to the state’s economic growth and development. 

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