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July 15, 2020 Wednesday 02:26:20 PM IST

India Govt to Set up Bulk Drug and Medical Devices Parks

Photo by Myrium Zelles for Pixabay.com

The Department of Pharmaceuticals is finalising guidelines for the setting up three bulk drug parks and four medical devices parks in the country. One of the bulk drug parks is likely to come up in Bhatinda in Punjab.
In order to encourage domestic production of critical APIs/ KSM and medical devices, Union Cabinet on March 12, 2020 has approved a scheme for development of three bulk drugs and four medical devices parks in which Government of India will extend Grants-in-Aid to States with a maximum limit of Rs. 1000 crore per bulk drug park and Rs 100 cr per medical device parks. In addition, the Government of India have also announced a Production Linked Incentive scheme for promoting domestic manufacturing of key critical Starting Materials/Drug Intermediates & APIs and medical devices across the country. Total financial implications of these schemes would be about Rs 13760 cr. The scheme for promotion of bulk drug park is expected to result in incremental production of bulk drugs worth about Rs 46,400 cr, while scheme for promotion of medical device park will lead to incremental production of medical devices worth about Rs 68,437 cr. These schemes will also result in significant generation of jobs.



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