Union Minister of Chemicals & Fertilizers DV Sadananda Gowda has that Department of Pharmaceuticals is finalizing guidelines which will form the basis for objectively selecting locations of upcoming three bulk drug parks and four medical devices parks in the country.
Finance Minister of Punjab Manpreet Singh Badal met DV Sadananda Gowda in New Delhi and handed over a request letter to Gowda for considering setting up one of the proposed bulk drug parks in Bhatinda in the State of Punjab.
On occasion, Badal said that the location at Bhatinda has good connectivity, water, and land availability. The state already has the presence of some of the biggest USFDA approved pharmaceutical companies and pharma institutes like NIPER, IISER, AIIMS among others.
In order to encourage domestic production of critical APIs or KSM and medical devices, Union Cabinet on 12 March 2020 has approved a scheme for development of three bulk drugs and four medical devices parks in which Government of India will extend Grants-in-Aid to States with a maximum limit of Rs 1000 crore per bulk drug park and Rs 100 crore per medical device parks.
In addition, the Government of India has also announced a Production Linked Incentive scheme for promoting domestic manufacturing of key critical starting materials or drug intermediates & APIs and medical devices across the country. Total financial implications of these schemes would be about Rs 13760 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. In comparison, the scheme for promotion of medical device parks will lead to incremental production of medical devices worth about Rs 68,437 crore. These schemes will also result in a significant generation of jobs.
