Strengthening of Pharma Industry scheme

Strengthening of Pharma Industry (SPI)' scheme Recently, the Ministry of Chemicals and Fertilizers has issued guidelines for the scheme of Strengthening of Pharmaceutical Industry (SPI). The objective of the scheme is to strengthen the existing infrastructure to make India a global leader in the pharma sector. Under this, financial assistance will be provided to pharma clusters (clusters) for creating common facilities. The production facilities of small and medium industries (SMEs) and micro, small and medium industries (MSMEs) will be upgraded. For this, interest subvention or capital subsidy will be provided to SMEs and MSMEs on their capital loans. A provision of Rs 500 crore has been made for this scheme for the period from financial year 2021-2022 to financial year 2025-2026. The scheme has the following 3 components or sub-schemes: Assistance to Pharmaceutical Industry for Common Facilities (APICF): Under this, the capacity of existing pharmaceutical clusters will be strengthened by creating common facilities. Its objective is to ensure sustainable growth of the pharma industry. Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS): Support will be provided to MSMEs with proven track record to grow, so that they meet national and international regulatory standards. Pharmaceutical and Medical Devices Promotion and Development Scheme (PMPDS): Under this, the growth and development of pharmaceutical and medical device sectors will be promoted. This would be done through study/survey reports, awareness programmes, database preparation, and industry promotion. Pharma Industry Sectors in India: The Indian pharma industry is the third largest in the world by volume and the 14th largest in terms of value. India is the largest supplier of generic drugs globally. Source – The Hindu Download Our App MORE CURRENT AFFAIRS

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Strengthening of Pharma Industry (SPI)’ scheme

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