Last Updated on January 6, 2024 by The Health Master
New Delhi: The government launched three schemes to strengthen Micro, Small, and Medium Enterprises (MSMEs) in the pharmaceutical sector.
Speaking at the launch event here, Union minister Mansukh Mandaviya noted that the schemes envisage technology up-gradation, the setting up of common research centers, and effluent treatment plants in clusters for the pharma MSMEs.
He said small companies should be able to upgrade their facilities to global manufacturing standards.
The chemicals and fertilizers ministry rolled out the schemes under the banner of “Strengthening Pharmaceuticals Industry‘ (SPI).
“I believe the pharma MSME industry will greatly benefit from the schemes.”
The new schemes have many benefits that will go a long way in making the Indian pharmaceutical industry Atma Nirbhar, more resilient and future-ready,” Mandaviya, who heads both health as well as chemical and fertilizers ministries, said.
The Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS) would facilitate pharmaceutical MSMEs with a proven track record to upgrade their technology.
The scheme has provisions for a capital subsidy of 10 percent on loans up to a maximum limit of Rs 10 crore with a minimum repayment period of three years or an interest subvention of up to 5 percent (6 percent in the case of units owned by SC/ST) on a reducing balance basis.
Similarly, Assistance to Pharma Industries for Common Facilities Scheme (API-CF) would strengthen the existing pharmaceutical clusters’ capacity for sustained growth.
It provides for assistance of up to 70 percent of the approved project cost of Rs 20 crore, whichever is less.
In the case of the Himalayan and northeast regions, the grant-in-aid would be Rs. 20 crores per cluster or 90 percent of the project cost, whichever is less.
The Pharmaceutical and Medical Devices Promotion and Development Scheme (PMPDS) would involve the preparation of study reports on topics of importance for the Indian pharma and medical device industry.
The scheme is aimed at creating a database of the pharma and medical device sectors.
Mandaviya asked the industry to keep upgrading in order to cater to evolving requirements across global markets.
He said that the government is working relentlessly towards strengthening the pharma industry.
“It (schemes) will increase investment, encourage research and innovation and enable the industry to develop futuristic products and ideas,” the minister said.
The minister said the government is working to enhance the ease of doing business and also reduce compliances to help the industry grow at a rapid pace.
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