The International Biotech Park at Hinjewadi, a landmark in the Indian biopharmaceutical industry, is a recognition for the 'intellectual capital of western India', as Pune is known for its qualified manpower, infrastructure facilities and institutional capacity.
The International Biotech Park, a joint venture project between Maharashtra Industrial Development Corporation (MIDC) and TCG Urban Infrastructure Holdings Ltd, is at the second phase of development now. During this phase the promoters will develop two multi-storied buildings with all the necessary facilities. In this phase the park will offer an excellent campus type, serene ambience and will be a non-polluting area adjacent to the IT Park - a key input for a knowledge industry. A large number of colleges, research institutions and the Pune University will aid development of research, apart from providing skilled manpower.
Commenting on the advantages of Pune, Prasanta K Biswal, TCG Real Estate, said, "Apart from the natural flora and fauna, Pune is known for superior infrastructure facilities, highly qualified manpower and institutional capacity. Several educational institutions are located in Pune, which is also the intellectual capital of Western India. All these are advantages of Pune compared to other parts."
Companies such as Emcure (14 Acres area), Shreya Biotech (10 Acres area), Advinus, and Novartis, has already purchased plots in the park, which was inaugurated in November 2003. Besides them, discussions with several other domestic companies and large-scale entrepreneurs are in the final stages. . It is also in the process of developing tie-ups with several research and academic institutions, international biotech parks and knowledge centres.
The central government has recently given approval for a special economic zone (SEZ) in the biotech park. The proposed SEZ will come up in an area of 32 acres. However, investment of the proposed SEZ is yet to be decided.