New Delhi: The Ministry of Fertilizers has issued guidelines for a plan to strengthen the pharmaceutical industry. The ministry said the scheme would be extended to support existing pharma clusters and micro, small and medium enterprises across the country. The objective of the scheme is to improve the productivity, quality, and sustainability of the pharma industry with a total financial outlay of `500 crore during the financial year 2021-22 to 2025-26.
The ministry said the project would make the country a global leader in the pharma sector by providing financial assistance to pharma clusters to create public facilities. This will not only improve the quality but also ensure the sustainable growth of the clusters. In order to upgrade the production facilities of the industries, interest or capital subsidy will be given on their capital loans. The component of the Pharmaceutical Technology Upgradation Assistance Scheme will facilitate the pharma industry with a proven track record of compliance with national and international regulatory standards.
