TN CM M K Stalin unveils Life Sciences Promotion policy for investors

Chennai: Tamil Nadu Chief Minister M K Stalin on Monday unveiled the Life Sciences Promotion Policy and Research and Development Policy aiming to transform the state into an attractive destination for manufacturers in Life Sciences to invest, innovate and create life sciences products.

The R&D policy aims to transform Tamil Nadu into a knowledge-based economy by 2030, driving manufacturing and service excellence.

Life Sciences includes a range of more specific scientific fields like microbiology, zoology, biochemistry, cell biology, evolutionary biology, anatomy, biophysics, epidemiology, marine biology, genetics, botany and ecology.

"The recent outbreak of the pandemic and subsequent geopolitical changes has brought to fore, the need and opportunity for Tamil Nadu to expand the production of drugs, vaccines, and medical equipment. Diversified and resilient supply chains are critical in this area," the policy said.

The state's demand for medicines and medical equipment is also expected to increase with the rise in number of people accessing healthcare services.

This policy is applicable for greenfield or expansion projects engaged in Biotechnology and Bio-Services, Pharmaceutical and Nutraceutical Industry, medical devices, and medical textiles. This policy supersedes the Tamil Nadu Biotechnology Policy 2014 and will be valid for a period of 5 years from the date of notification. It may be periodically revised from time to time.

The government would strive to attract Rs 20,000 crore of investment in Life Sciences and generate 50,000 jobs.

Medical electronics, devices and equipment, biotechnology, pharmaceuticals, bulk drugs and nutraceuticals and technical textiles including medical textiles qualify as sunrise sectors under TNIP 2021 and are eligible for special incentives for sunrise sector.

Through the R & D policy, the government aims to double the R&D expenditure in the state from the government, higher education and private sector by 2030. It hopes to increase the inputs to R&D, including the number of researchers and scientists, increase the outputs for innovation, such as patents and publications, develop a synergetic innovation eco-system of research parks, research centres, innovation hubs and centres of excellence.

R&D will be promoted in private sector. This policy shall come into effect from the date of issue of Government Order and will be valid for a period of ten years or until a new policy is announced, whichever is earlier.

"A comprehensive and inter-disciplinary approach is required to encourage R & D in the State...the scope of this policy shall include firms that are engaged in R& D centres in core manufacturing as well as global capability centres," it said.