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15 companies sign MoUs worth Rs 2000 crore, in a day, for investments in biotech sector – Times of India

By Marisa Laycock

Ahmedabad:

The Gujarat Government signed 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 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.
The state is embracing a policy-driven approach to expand its development in key sectors. State Government stated that 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.
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 biofertilizers 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.
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.
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.

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Marisa Laycock