UP State Industrial Development Authority, IIT BHU sign MOU to set up pharma park in Bundelkhand

A memorandum of understanding inked between Uttar Pradesh State Industrial Development Authority (UPSIDA) and the Indian Institute of Technology, Banaras Hindu University (BHU) will lead to the setting up of pharmaceutical industries in Lalitpur that falls in Bundelkhand—one of the country’s least developed regions.

The pharma park will come up in 1,472 acres of land spread across five villages.

The Department of Pharmaceutical Engineering and Technology of IIT BHU Varanasi will offer technical expertise and also provide qualified human resources, research support and technological solutions to the companies that will invest in the park.

The pharma park, the government hopes, will attract national and international players. Another hope is that it will offer employment to local youth, preventing their migration to other states in search of quality employment opportunities.

The CEO of UPSIDA, Mayur Maheshwari, dubbed the agreement a “historic milestone” which would not just provide land, but create an inclusive and strong industrial ecosystem. Prof. Rajesh Kumar, dean, IIT BHU, said the institute was ‘excited’ about the partnership, and that it had the technical capability to deal with the challenges of the pharmaceutical sector.

Among the key points of the agreement is that the government will encourage companies to give jobs to the students of the Department of Pharmaceutical Engineering and Technology of IIT BHU. Special campus placement drives will also be organised. The placement facilities of IIT BHU will be open to park companies. A joint committee will be formed to formulate a strategy for the placement of students.

Changes will be made in the courses as per the requirements of the industry in skill development and training. Students will get opportunities for internships and training. Special training programmes will also be developed for the employees of pharma companies.

In addition, joint research projects will be initiated and faculty-industry exchange programmes put in place.

This agreement will remain effective for five years but can be extended further with mutual consent.