NEW DELHI: Stressing that small companies should be able to upgrade their facilities to global manufacturing standards, Union Health Minister Dr Mansukh Mandaviya on Thursday launched three schemes that would strengthen micro, small and medium enterprises (MSMEs) in the pharmaceutical sector.
The Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS) would facilitate pharmaceutical MSMEs with a proven track record in upgrading their technology.
Speaking at the event, Union Minister Chemicals and Fertilizers Minister Dr Mansukh Mandaviya said that the schemes envisage technology up-gradation, setting up common research centres and effluent treatment plants in clusters for the pharma MSMEs.
The chemicals and fertilisers 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 also holds the health and family welfare ministry, said.
The scheme has provisions for a capital subsidy of 10 per cent on loans up to a maximum limit of Rs 10 crore with a minimum repayment period of three years or interest subvention of up to 5 per cent (6 per cent in case of units owned by SC/ST) on 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 per cent of the approved project cost of Rs 20 crore, whichever is less.
In the Himalayan and north-east region, the grant-in-aid would be Rs 20 crore per cluster or 90 per cent of the project cost, whichever is less.
The Pharmaceutical and Medical Devices Promotion and Development Scheme (PMPDS) would involve preparing study reports on topics of importance for the Indian pharma and medical device industry.
The scheme aims to create a database of the pharma and medical device sectors.
Asking the industry to keep upgrading to cater to evolving requirements across global markets, 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.
“It (schemes) will increase investment, encourage research and innovation and enable the industry to develop futuristic products and ideas,” he added.