Photo of Devanshi Dalal

Associate in the General Corporate Practice at the Ahmedabad office of Cyril Amarchand Mangaldas. Devanshi has graduated from Gujarat National Law University, in 2018 and specializes in general corporate advisory, inbound and outbound investments, mergers and acquisitions, joint ventures and business transfers. She can be reached at devanshi.dalal@cyrilshroff.com

Gujarat - A Re-emerging Pharma Destination

Gujarat has been the flag bearer of India’s pharmaceutical industry since the establishment of the country’s second oldest drug company, the Alembic Chemical Works Company Limited in Vadodara in 1907. Gujarat’s strategic location on the western coast, coupled with dynamic entrepreneurial talent and favourable policies from the State Government has led it to become one of the premiere industrial hubs for investors looking to invest in India.

Gujarat currently has 33 percent of the aggregate share of the pharmaceutical industry in India[1] and the State also accounts for at least 28 percent of the pharmaceutical exports from India[2]. Moreover, with the advent of the Goods and Service Tax (GST) coupled with the upcoming expiry of tax holidays granted by some northern states of India, the pharmaceutical industry is witnessing a jurisdictional shift, with some of the largest pharmaceutical companies looking to relocate or establish their manufacturing plants in Gujarat.
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