Indian Economy News

Assistance to the pharma industry has been provided for Common Facilities Scheme with an outlay of US$ 61.1 million (Rs. 500 crores)

The Strengthening of Pharmaceutical Industry (SPI) plan is being carried out by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, with a financial outlay of US$ 61.1 million (Rs. 500 crores) and tenure from FY22-FY26.

The scheme has three sub-schemes- (i) Assistance to Pharmaceutical Industry for Common Facilities (APICF), which supports infrastructure improvements for pharma medium, small, and micro enterprises (MSMEs) clusters, (ii) Promotion of Technology Upgradation Assistance Scheme (PTUAS), which addresses the need for individual pharma MSMEs to upgrade their technology, and (iii) Pharmaceutical and Medical Device Promotion and Development Scheme (PMPDS), which raises awareness and organizes seminars and events.

Under APICF, about eight MSME projects have been approved by the government. In 2023, two new projects of MSME Pharma clusters have also been approved under the API-CF, in Telangana.

However, the Ministry of MSME is implementing the Micro and Small Enterprises Cluster Development Programme (MSE-CDP) under which, the upper limit of project cost for considering the Government of India grant for setting up of CFCs has been enhanced from US$ 2.4-3.7 million (Rs. 20-30 crores) in the new guidelines of the scheme.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.