Reverse migration to Karnal pharma park

New Delhi, March 07, 2019: Pharmaceutical industrialists, who had shifted to Himachal Pradesh and Uttarakhand more than a decade ago, are now coming back, primarily because of two reasons — uniform GST and the Haryana Government setting up a pharma park over 100 acres of land in Karnal district.

At least six industrialists are set to begin their second innings in the coming  months. They are expected to invest Rs 125 crore. Also, 40 new entrepreneurs have shown interest.

“Land for the park has been earmarked by HSIIDC near Tarori. Six industrialists from Karnal with units in other states have shown interest,” RL Sharma, head of Karnal Pharmaceutical Manufacturing Association, said.

As of now, Karnal has 57 small, medium and large industries manufacturing allopathic, ayurvedic and herbal drugs. In 2005, several industrialists had winded up business and shifted to Himachal Pradesh or Uttarakhand where they were exempted from paying central excise duty and income tax for 10 years.

According to reports published in tribuneindia.com Ram Gopal Goel runs four pharma units in Baddi. He now intends to return to Haryana and set up industry in Karnal.