Ind-Swift plans Rs 250 crore varsities

Will invest Rs 50 crore to start an institute in Himachal Pradesh

The Rs 600 crore Ind-Swift group has chalked out plans to set up two universities for medical, pharma and engineering studies in Punjab and Himachal Pradesh with an estimated investment of Rs 250 crore.

"The universities will be set up by Swift Fundamental Research and Education Society (SFRES). We have received permission from AICTE and have already initiated work near Chandigarh," SFRES Director Anshu Kataria said.

The second university will be set up in HP for which the group has sought land from the government. In the next two years, the company aims to invest Rs 150 crore in the medical wing of the two universities and Rs 100 crore for engineering and architecture courses and for setting up hostel facility, he added.

Given the fast growth of the pharma industry, there is a dire need for trained professionals in the sector, and also the institutes required for it are not coming up at the demanded pace, Kataria added.

Keeping in view the dearth of pharma professionals in Himachal Pradesh "� a tax holiday zone, the company has decided to tie up with all leading pharma companies in the country for providing tailor-made training courses. It is planning to come up with a training institute in HP with an estimated cost of Rs 50 crore.

For the training institute, "we plan to have a tie-up with all the major pharma companies as this will help generate professionals as per the segment demand", he said.

The HP institute will be set up by Ind-Swift Communications. "If a certain player requires 100 professionals, we will equip the company with them as per the requisite skills," he added.

Leading pharma companies "� including Dr Reddy's Lab, Cadila Healthcare, Torrent, Nicholas Piramal and Wockhardt "� have set up their facilities in the industrial belt of Solan district.

According to the latest industrial policy (December 2004), it is mandatory to employ 70 per cent locals. "HP may lose a major part of the industry if it fails to relax its mandatory stipulation," Kataria said.

With no such binding in the Uttranchal, a number of new pharma units have abandoned their expansion plans and set up their ancillary units there, he added.

Having entered the field of publications four years ago with a medical journal 'Trendz', the group has now launched a national pharma magazine 'Pharma Buzz'. Kataria, who is also the bureau chief of 'Pharma Buzz', was today present at the launch of the magazine in Ahmedabad.

"The industry is expected to grow at 11 per cent and become a Rs 60,000 crore industry by 2007-08, with exports to regulated markets of the US and Europe in generic drugs are also likely to grow," he said.

Apart from covering day-to-day news related to the industry, 'Pharma Buzz' will also provide an in-depth knowledge about the current trends, projections and marketing skills.