B. K. Mody Government Pharmacy College, only government degree Pharmacy College in Gujarat State, was started as one of the departments in Government Polytechnic, Rajkot in 1976.

In 1984, the Government of Gujarat initiated degree pharmacy course in this pharmacy department, with exemplary donation of Rs. 20 lacs by Shri J. B. Mody, the Managing Director, Unique Pharmaceuticals Pvt. Ltd., Mumbai.

Hence, this college was named as B. K. Mody Government Pharmacy College in the memory of late Bhagwanlal K. Modi and late Smt. Jayakunvar Modi.