Piramal Group keen to invest in K’taka pharma sector

Bengaluru, Oct 13 : Barely a week after Karnataka Chief Minister B.S. Yediyurappa wrote a letter to the country’s 55 powerful industrial houses, the Piramal Group expressed its keen interest to invest in the pharma sector in the state during a virtual meeting with Yediyurappa on Tuesday.

According to a note released by the Chief Minister’s Office here, the CM along with state Industry Minister Jagadish Shettar said that the state government would extend all possible support to the group to invest in the state.

Extending the red carpet welcome to the companies to invest in Karnataka, Yediyurappa said that the state government had taken steps to amend labour laws and land reforms to help the industries to set up shop here.

Yediyurappa explained that Karnataka had been attracting a considerable degree of investments in the pharma sector from the beginning. “Pharma companies like AstraZeneca and Biocon have made huge investments to set up their plants here,” the CM said.

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While responding positively to the CM’s call, Piramal Group Chairman, Anand Piramal said that his company was happy to hear about Karnataka giving required clearances in just 24 hours. “We are happy to work with such fast paced administration,” he said.

Piramal added that his group was interested in investing in the pharmaceutical sector. “Our company has global exposure in the pharmaceutical sector and wishes to invest in Karnataka to set up such a plant here too,” Piramal said.

A week ago, Yediyurappa had written a letter to as many as 55 industrial powerhouses and invited them to invest in the state.

He had written to Reliance, Bharti Enterprises Group, ITC, Wipro, L&T, Bajaj, Jindal, Hero, Torrent, Vedanta, Tata, Aditya Birla, Piramal, MR, Kalyani, Adani, Murugappa Group, Patanjali, TVS, Hinduja, Godrej, Hindustan Lever, Infosys, HCL, Nestle, Sun Pharmaceutical, Dabur, Cipla, Eicher Motor, Micro Limited, ACC, Emphasis, Escorts Limited, Maruti Suzuki, Bosch, ABB and Dalmia.

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The government had issued an ordinance to implement with immediate effect measures undertaken in respect of ease of doing business.

As per the revised norms, industries can be started after getting the permission of a high-level committee of the government. They need not approach other departments and boards seeking permissions and several concessions were also announced.

The CM in his letters to industries requested them to make the best use of them. Investments have been invited in food processing, software, pharmaceutical, auto components, building materials, chemicals, electronics and other sectors.

The letter had also mentioned about the challenges faced from China and trade war during Covid-19 in the light of geographical issues and the resolve of the country to become self-reliant.

Disclaimer: This story is auto-generated from IANS service.

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