Pharmaceuticals & Bio-Technology
Goa has a large established pharmaceutical industry with estimated yearly revenues of more than Rs. 7,500 crores ($ 1.35 billion). The industry is growing at a healthy rate of about15% annually, and employs more than 25,000 persons. It is estimated that the pharmaceutical industry in Goa contributes around 10% of India’s pharmaceutical output. The Mormugao Port is a notified port for both import and export of pharmaceutical products and there is an Assistant Drug Controller office in Mormugao.
While the robust growth is an indicator of the favourable investment climate in Goa for pharmaceutical companies, the Government is implementing key interventions to further improve the investment climate for pharmaceutical companies. Synergies with the pharmaceutical industry along with the several other advantages such as a large educated population makes Goa an attractive destination for bio-technology companies. A biotechnology incubator is being set up to encourage biotech entrepreneurs.
The following initiatives are being undertaken which will have a positive impact on the investment climate for pharmaceuticals & biotechnology companies
a. The planned revamp of type of courses and syllabi offered in colleges in Goa includes starting a M.Pharm in Pharmaceutics and other courses to meet the needs expressed by the industry players;
b. The Government of Goa will bring out a Biotechnology Policy for Goa shortly