Odisha Targets Pharma Sector Growth, Unveils Incentives in New Pharma-Medical Devices Policy.

The Odisha government is aiming to boost pharmaceutical investments with a new Pharmaceuticals and Medical Devices Policy that offers a range of incentives, including up to 40% subsidy on capital investment with no upper limit on investment size.

Speaking to BusinessLine, Hemant Sharma, Additional Chief Secretary of Industry & I&PR, said, “We want to make a beginning in the pharmaceutical sector given the huge potential for developing manufacturing clusters. The new policy will roll out a red carpet for investors with highly competitive incentives, including 30–40% capital investment subsidy on plant and machinery.”

The policy is set to be unveiled alongside the launch of two new pharma clusters at the Pharma Conclave 2025, organised by the state government in Bhubaneswar.