(MENAFN- KNN India) Ahmedabad, Dec 15 (KNN) Gujarat has stood as a leader in India's pharmaceutical industry, serving as a pivotal centre for pharmaceutical manufacturing and exports, highlighted the state government as it prepares to host the Vibrant Gujarat Global Investor Summit.
The sector fosters significant employment opportunities, supporting approximately 50,000 individuals across over 4,000 manufacturing facilities, as per a recent state government release.
As per official reports, the state accounts for a staggering 53 per cent share in medical devices manufacturing, 78 per cent of the country's cardiac stents manufacturing.
Furthermore, roughly 40 per cent of India's Contract Research Organizations (CROs), vital for pharmaceutical development, call Gujarat their home.
Ahead of the upcoming Vibrant Gujarat Global Investor Summit, Chief Minister Bhupendra Patel laid emphasis on Gujarat's pharma sector dominance.
"Gujarat contributes 30 per cent of India's pharmaceutical production and 28 per cent of total pharma export," Patel had said.
Scheduled for January next year in Gandhinagar, the 10th iteration of the Vibrant Gujarat event is designed to position the state as the most favourable investment destination.
The issuance of more than 700 pharmaceutical manufacturing licenses from 2020 to 2022 has led experts to anticipate a substantial surge in Gujarat's contribution to the global pharmaceutical sector.
(KNN Bureau)
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