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Pharma industry files IEMs worth Rs. 4,100 crore in three months till March, 2022

Gireesh Babu, New Delhi
Monday, May 23, 2022, 08:00 Hrs  [IST]

The pharma industry has seen investment proposals to the tune of over Rs. 4,100 crore filed through Industrial Entrepreneur Memorandum (IEM) in the first three months of the year, from January to March, 2022, after setting a new high in IEM filings in the year 2021. The IEMs implemented during the three months was close to Rs. 1,000 crore, according to the official data.

Data from the Department for Promotion of Industry and Internal Trade (DPIIT) shows that in the drugs and pharmaceuticals sector, a total of 17 IEMs filed, with a proposed investment of Rs. 4,103 crore, which around 3.5 per cent of the total investment proposals made by more than 38 sectors during the period from January to March, 2022.

Last year, the sector saw 75 IEMs being filed with an intention to invest around Rs. 13,611 crore, a significant jump from Rs. 7,376 crore investments proposed in 77 IEMs during the year 2020.

IEMs filed by the industry during the month of March 2022 include a manufacturing unit for oral solid dosage forms including granules, bulk coated and non-coated tablets, and finished packed tablets to the tune of 57 crore units by Reliance Life Sciences Nashik Pvt Ltd in Maharashtra, a facility to manufacture I5-fingolimod intermediate by Biocon Ltd in Andhra Pradesh, among a total of around eight IEMs filed in the sector.

In the medical and surgical instruments sector, one IEM with a proposed investment of Rs. 61 crore was committed during the three months. In 2021, the sector saw 9 IEMs with proposed investment of Rs. 556 crore, as against Rs. 467 crore investment proposals in nine IEMs in the year 2020.

According to the Part B of IEM form filed by entrepreneurs during the three months, regarding the IEMs implemented, the drugs and pharmaceutical sector has seen an investment of Rs. 954 crore in five projects during January to March, 2022. The year 2021 has seen a decline in IEMs getting converted to actual investments, with 30 IEMs with an investment of Rs. 3,599 crore getting implemented as against Rs. 5,599 crore getting implemented in 39 projects in 2020.

In the medical and surgical instruments sector, the first three months of 2022 did not see any of the IEMs getting implemented. In the year 2021, two IEMs with a total of Rs. 213 crore got implemented, as against Rs. 13 crore investment came through implementation of one project in the year 2020.

Industrial undertakings exempted from the requirements of Industrial Licensing under the Industries (Development and Regulation) Act, 1951 are required to file information relating to setting up of industries known as IEM (Industrial Entrepreneur Memorandum). All industrial undertakings exempted from the requirements of industrial licensing under I (D&R) Act, 1951 and having an investment in plant and machinery of Rs. 50 crore and above; and turnover of Rs. 250 crore and above, including Existing Units, New undertaking (NU) and New Article (NA), may file an IEM, that is in Form IEM in the prescribed format 'Part A', according to the DPIIT.

All Industrial undertakings which had filed IEM are required to report commencement of commercial production and this is also filed on-line on the same portal by way of filing information as per prescribed form 'Part B' of the IEM after commencement of commercial production by the establishment.

 

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