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Centre To Strengthen Pharmaceuticals Industry With Focus On MSMEs And Clusters
The ministry said that MSME units will have the option to choose from either capital subsidy or interest subvention
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With an objective to further enhance India’s existing manufacturing prowess in the pharmaceuticals industry, the Ministry of Chemicals and Fertilisers is planning to roll out a series of initiatives under the banner of schemes for strengthening the pharmaceutical industry (SPI).
Keeping in view the strategic role of MSMEs, who provide important forward and backward linkages to the industry, and also keeping in view that MSMEs tend to grow in clusters, these schemes shall address the issues of technology upgradation at both unit level and cluster level, the ministry said.
The central government will be incentivising the intending MSME units going in for acquiring schedule M certification or WHO GMP certification through the sub-scheme Pharmaceuticals Industry Technology Upgradation Assistance Scheme (PTUAS).
The ministry said that MSME units will have the option to choose from either capital subsidy or interest subvention.