Friday, April 6, 2012

Dr Reddy's Laboratories and Divi's Labs are planning to set up special economic zones


Andhra Pradesh in line with the proposed pharmaceuticals and biotech special economic zones across the country by Pharmaceutical and Biotech majors and State industrial bodies.

Dr Reddy's is learnt to have an approval to develop a 146 acre pharmaceuticals SEZ at Bahadurpalli Village in Ranga Reddy District of Andhra Pradesh whereas Divi's Labs has proposed to establish a pharmaceuticals SEZ at Chippada, Visakhapatnam in Andhra Pradesh with an estimated investment of Rs 12 crore in an area of 250 acres.

SEZ units have been exempted from the requirement of import licence, import registration and import through notified ports in respect to drugs and cosmetics under Drugs and Cosmetics Rules, 1945 vide Department of Health Notification GSR 528(E) dated July 8, 2003. Income tax exemption for a block of 10 years as per section 80-IA of the Income Tax Act.

These SEZs will further strengthen AP's position in the Indian pharma industry, in addition to the Jawaharlal Nehru Pharma city which is in advanced stages of creating necessary infrastructure and establishment of a separate pharma SEZ within pharma city at Visakhapatnam
.

0 comments:

Post a Comment

Total Pageviews

Pages

Categories

Blogroll

Followers

Twitter Delicious Facebook Digg Stumbleupon Favorites More

 
Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Web Hosting Bluehost