Current Context: Union Minister of Chemical and Fertilizers D V Sadananda Gowda has launched 4 schemes for the promotion of Bulk Drugs and Medical Devices parks.
- Highlights of the schemes: The application for the scheme will remain open for 120 days from the date of issuing guidelines. The applicants will receive approval within 90 days after the closure of application form. The total financial outlay of the scheme is Rs. 6,940 crores. Every two schemes for bulk drug parks and medical devices parks has been formulated by the Department of Pharmaceuticals.
- Scheme for promotion of bulk drug parks: Under this, Rs 3000 crore outlay has been decided to create 3 drug parks. The scheme is valid for 4 years. It will be implemented via the State Implementing Agency (SIA). The grant-in-aid will be 90 per cent of the project cost in case of North-East and hilly States and 70 per cent in case of other States. Maximum grant-in-aid for one bulk drug park is limited to Rs 1000 crores.
- Scheme for promotion of medical devices parks: Under this, Rs 3420 crore outlay has been decided. The scheme is valid for 6 years. The schemes will boost domestic manufacturing of medical devices. A financial incentive will be given at a rate of five per cent of the sales of domestically manufactured medical devices.
- PLI scheme for promotion of domestic manufacturing of KSMs, DIs, & APIs: Under this, Rs 6490 crore outlay has been decided. It will promote domestic manufacturing of Key Starting Materials (KSMs)/Drug Intermediates (DIs) / Active Pharmaceutical Ingredients (APIs) in India. The scheme is valid for 9 years.
