Union Minister for Chemicals and Fertilizers Sadananda Gowda has launched four schemes of Department of Pharmaceuticals for promotion of domestic manufacturing of bulk drugs and medical devices parks in the country.
Daily Current Affairs Quiz 2020
Key-Points
The Production Linked Incentive (PLI) schemes for promoting domestic manufacturing of KSMs, DIs and APIs and medical devices will go a long way including to boost domestic manufacturing of 53 bulk drugs, on which India is critically dependent on imports.
The Scheme for promotion of Bulk Drug Parks envisages creation of 3 bulk drug parks in the country. The grant-in-aid will be 90% of the project cost in case of North-East and hilly States and 70% in case of other States. Maximum grant-in-aid for one bulk drug park is Rs.1000 crore.
Production Linked Incentive (PLI) scheme for promoting domestic manufacturing of Medical Devices intends to boost domestic manufacturing of medical devices in four target segments by giving financial incentives on sales to a maximum number of 28 selected applicants for a period of 5 years
In order to encourage domestic production of critical APIs (Active Pharmaceutical Ingredients)/ KSM (Key Starting Material) and medical devices, Union Cabinet in March, 2020 approved a scheme for development of three bulk drugs and four medical devices parks.
Under this, Government of India will give incentive to States with a maximum limit of 1000 Crore rupees per bulk drug park and 100 crore rupees per medical device parks.