Staff Reporter
Government will soon launch a new scheme for Promotion of Research and Innovation in Pharma- Med Sector- PRIP with a total outlay of 5 thousand crore rupees.
Last month, the Union Cabinet had given its approval to this scheme for a period of five years from 2023-24 to 2027-28. He added that the objective of the PRIP Scheme is to transform Indian Pharma Med Tech sector from cost-based competitiveness to innovation-based growth by strengthening the research infrastructure in the country. Out of the 5 thousand crore rupees earmarked for the scheme, 700 crore rupees will be for strengthening the research infrastructure through Centres of Excellence in the 7 existing National Institutes of Pharmaceutical Education and Research located in the areas including Mohali, Ahmedabad, Hyderabad and Kolkata.
Union Minister for Chemicals and Fertilizers Dr. Mansukh Mandaviya said that the focus of the government is to promote the growth of pharma industry in the country, enhance manufacturing of drugs and promote research and innovation in the sector. He informed that keeping this in mind, the government has decided to set up three Bulk Drug Parks at a cost of one thousand crore rupees each.
These Bulk Parks are being set up in Gujarat, Himachal Pradesh and Andhra Pradesh. Besides, four medical device parks are also being set up to promote the manufacturing of medical devices in the country. These medical device parks are being established at places in Uttar Pradesh, Himachal Pradesh, Tamil Nadu and Madhya Pradesh.