WEB DESK / Staff Reporter
UNION Minister for Chemicals and Fertilisers D V Sadananda Gowda on Tuesday held a meeting with senior officers of Department of Pharmaceuticals to review various aspects of proposed development of three Bulk Drug Parks and four Medical Device Parks across the country.
During the meeting, Mr Gowda suggested that the modalities of selection of locality of parks as well as of beneficiaries under Production Linked Incentive (PLI) scheme should be based on some well-defined objective criteria to ensure orderly development of the parks.
He said, these schemes will increase competitiveness of domestic production of bulk drugs and medical devices.
Development of these parks will not only reduce India’s dependency on imports but will also be helpful in making the country a major player in global pharma exports.
Under promotion of Bulk Drug Parks, Central Government will give one-time grants-in-aid to three Bulk Drug Parks with a maximum limit of Rs. 1,000 Crore per Bulk Drug Park, or 70 percent of the project cost of Common Infrastructure Facilities whichever is less.
In addition, Government has also approved Production Linked Incentive Scheme for promotion of domestic manufacturing of 53 identified critical KSMs and Drug Intermediates and APIs in the country with outlay of Rs. 6,940 crore during the tenure of the scheme from 2020-21 to 2027-28.
Similarly, for promotion of Medical Device Parks, Centre will give one-time grants-in-aid to four Medical Device Parks with a maximum limit of Rs. 100 Crore per Medical Device Park, or 70 percent of the project cost of Common Infrastructure Facilities whichever is less.
In addition, Centre has also approved Production Linked Incentive Scheme for promotion of domestic manufacturing of medical devices in the country with outlay of Rs. 3420 crore during the tenure of the scheme from 2020-21 to 2025-26. In the meeting,
Secretary Pharmaceuticals gave a brief on various aspects of bulk drug and medical device parks saying that the Department is in process of formulating guidelines for implementation of these schemes.