New Delhi, July 13 (SocialNews.XYZ) As part of efforts to make India self-sufficient in manufacturing bulk drugs or APIs, the Department of Pharmaceuticals said on Monday that it is finalising guidelines for selecting locations of three bulk drug parks and four medical devices parks.
The guideline will become the basis for selection of developers for this prestigious project which is part of government's Aatmanirbhar Bharat mission. India imports more than 70 per cent of its API or bulk drug needs, largely from countries such as China.
"Department of Pharmaceuticals is finalising guidelines which will form basis for objectively selecting locations of upcoming three bulk drugs parks and four medical devices parks in the country," Union Minister of Chemicals & Fertilisers D.V. Sadananda Gowda said in a statement after his meeting with Punjab Finance Minister Manpreet Singh Badal.
The Punjab minister handed over request letter to Gowda for considering setting up of one of the proposed bulk drug parks in Bathinda that already has presence of some of biggest USFDA approved pharmaceutical companies and pharma institutes like NIPER, IISER, AIIMS among others.
In order to encourage domestic production of critical APIs and medical devices, the Union Cabinet on March 12 had approved a scheme for development of three bulk drugs and four medical devices parks in which the Centre will extend Grants-in-Aid to states with a maximum limit of Rs 1,000 crore per bulk drug park and Rs 100 crore per medical device parks.
In addition, the government has 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. The total financial implications of these schemes would be about Rs 13,760 crore.
The scheme for promotion of bulk drug park is expected to result in incremental production of bulk drugs worth about Rs 46,400 crore, while scheme for promotion of medical device park will lead to incremental production of medical devices worth about Rs 68,437 crore.
Source: IANS
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