Hikal, the preferred long-term partner for leading global life sciences companies, and the Government of Gujarat have officially signed a Memorandum of Understanding (MoU) on 27th December 2023 in Gandhinagar as part of the investment initiative for the Vibrant Gujarat Global Summit 2024.

Under the terms of the MoU, Hikal Ltd invests Rs. 500 crore into the existing state-of-the-art fine chemical plant at Panoli, Gujarat. The Panoli plant stands out as the sole Hikal site encompassing all three business verticals—Pharma, Crop Protection, and Animal Health.

On signing the MoU, Kuldeep Jain, Chief Finance Officer, Hikal Ltd said, “We are delighted to forge this strategic alliance with the Government of Gujarat. The MoU underscores a joint commitment to fostering economic growth, facilitating innovation, and creating employment opportunities within the state. We are working towards the Honourable Prime Minister’s goal of Atmanirbhar Bharat by developing and manufacturing life science products for a self-reliant India. At Hikal Limited, we are dedicated to making significant contributions to the socio-economic development of the state. Our existing plant in Panoli, Gujarat, underscores our long-term commitment to Gujarat while upholding the highest standards of quality and sustainability.”

This substantial investment aims not only to bolster Hikal's dedication to innovation and sustainable growth but also to contribute to the industrial development of the region. Moreover, this investment is anticipated to create employment opportunities, with an expected generation of 400 jobs. This strategic move underscores Hikal's continuous efforts to integrate seamlessly with the current investment landscape, marking a significant step in fostering development in the region.

The Government of Gujarat, in turn, pledges to facilitate Hikal Limited in obtaining the necessary permissions, registrations, approvals, and clearances from the concerned departments of the State.