Pharma Leaders Advocate SEZ Status for Panchkula to Boost Industry Growth

Key pharmaceutical leaders in Panchkula push for Special Economic Zone (SEZ) status to attract investments and catalyze growth. M.K. Bhatia is appointed Senior VP of the new Pharma Association and champions the benefits of SEZ, including tax relief, better infrastructure, and faster drug approvals.

VMPL Panchkula (Haryana) [India], September 27: Key leaders from Panchkula's pharmaceutical sector convened at Mits Healthcare to advocate for Special Economic Zone (SEZ) status for the region, a move they believe will drive growth and attract substantial investments. A symbolic mammoth syringe was created on the occasion.

M.K. Bhatia, a prominent industry figure, has been appointed Senior Vice President of the newly formed Pharma Association. Bhatia, who garnered acclaim last year for gifting 12 cars to his colleagues during Diwali, is reportedly planning similar giveaways this year.

He stressed that SEZ status would provide significant benefits to the pharmaceutical industry, offering tax relief and lower tariffs to attract businesses, improved infrastructure for transport, power, and communications, streamlined drug approval processes to accelerate market entry, and increased government support for research and development. Bhatia and other industry leaders believe SEZ designation would transform Panchkula into a key pharmaceutical hub.

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(With inputs from agencies.)