Govt earmarks Rs 500 cr for scheme to support pharma clusters, MSMEs
- IBEF
- March 14, 2022
The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers has set aside a total financial outlay of Rs 500 crore (US$ 65.2 million) from FY22 to FY26 to help existing pharma clusters and MSMEs across the country boost their productivity and sustainability. "Further, in order to upgrade the production facilities of SMEs and MSMEs so as to meet national and international regulatory standards (WHO-GMP or Schedule-M), interest subvention or capital subsidy on their capital loans will be provided, which will further facilitate the growth in volumes as well as in quality," it added.
According to the ministry, the programme will consist of three parts: assistance to the pharmaceutical industry for common facilities (APICF), pharmaceutical technology up-gradation assistance scheme (PTUAS), and pharmaceutical and medical devices promotion and development scheme (PMPDS). The government has set aside Rs 178 crore (US$ 23.23 million) for a period of five years for APICF, and an outlay of Rs 300 crore (US$ 39.15 million) has been set aside for the PTUAS for five years.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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