2. Bulk drug parks scheme •
The US$ 400 million scheme emphasises on the promotion of drug parks for the manufacturing of bulk drugs.
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The scheme will reduce import dependence along with decreasing cost of bulk drugs in the country.
3. State government schemes •
States have specific policies for the promotion of life sciences industry. For instance, the Government of Telangana had implemented the Life Sciences Policy (2015-2020), which significantly contributed to the development of biotechnology and pharma ecosystem in the state. Telangana’s Genome valley, in Hyderabad, now contributes to ~33% of the supply of vaccines to the globe.
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Similarly, the Government of Gujarat has published the Biotechnology Policy (20222027) to impart impetus to the burgeoning biotechnology sector.
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These policies aim to provide specific incentives for promotion of the industry in the state. For instance, incentives pertaining to land, capital, and power are given by the state governments – further boosting manufacturing capabilities of the Indian pharmaceuticals industry.
Support provided by Make in India / Invest India team. Project Development Cells (PDCs) have been constituted in 29 ministries and departments of the Government of India. Invest India is mandated by the Government of India to handhold investors in their investment journey in India. A PDC has been established between Department of Pharmaceuticals and Invest India. The PDC works to address grievances related to the implementation of the PLI scheme and any other investment plans, among various other initiatives listed below: •
Facilitate investors: PDCs help investors in getting regulatory/land approvals or address grievances pertaining to different schemes launched by the Department of Pharmaceuticals, Government of India.
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Develop policy initiatives: In close discussion with the Department of Pharmaceuticals and industry leaders, regular webinars and brainstorming sessions are conducted to further streamline the investment landscape in the pharma sector.
Content Courtesy: Invest India Team
Healthcare & Pharmaceutical Landscape of NZ
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