Centre unveils 3 schemes to support MSMEs in pharmaceutical sector

New Delhi: The government on Thursday launched three schemes to support Micro, Small and Medium Enterprises (MSMEs) in the pharmaceutical sector.

The plans call for technology advancement, the establishment of shared research centres, and the construction of effluent treatment plants in clusters for pharma MSMEs, according to Union Minister Mansukh Mandaviya.

According to him, small businesses should be able to modernise their facilities to meet international manufacturing standards.

The initiatives were launched by the chemicals and fertilisers ministry under the slogan “Strengthening Pharmaceuticals Industry” (SPI).

“I believe the pharma MSME industry will greatly benefit from the schemes. The new schemes have many benefits that will go a long way in making the Indian pharmaceutical industry, Atma Nirbhar, more resilient and future-ready,” Mandaviya, who heads both health as well as chemical and fertilisers ministries, said.

The programmes offer support of up to Rs 20 crore per common facility, such as a research centre, testing labs, and ETPs, in pharmaceutical clusters, as well as credit-linked capital and interest subsidies for MSME units in the pharmaceutical sector upgrading their technology.

SIDBI will serve as the project management advisor for putting the plan into action.

Pharmaceutical MSMEs with a track record of success could update their technology with the help of the Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS).

The programme allows for either a capital subsidy of 10% on loans up to a maximum of Rs. 10 crore with a minimum repayment period of three years, or an interest subsidy of up to 5% (or 6% in the case of units owned by SC/ST) on a declining balance basis.

Similar to this, the Assistance to Pharma Industries for Common Facilities Scheme (API-CF) will increase the capacity of the current pharmaceutical clusters for long-term expansion. It allows for assistance up to Rs 20 crore, or 70% of the approved project cost, whichever is smaller.

The grant-in-aid amount for the Himalayan and north-east regions will be Rs 20 crore per cluster or 90% of the project cost, whichever is less.

As part of the Pharmaceutical and Medical Devices Promotion and Development Scheme (PMPDS), study reports on subjects important to the Indian pharmaceutical and medical device industries would be prepared.

The plan aims to compile a database of the pharmaceutical and medical device industries.

Mandaviya urged the sector to continue modernising in order to meet changing consumer demands on international marketplaces.

He emphasised the necessity of shifting to ‘value from volume.’

The post Centre unveils 3 schemes to support MSMEs in pharmaceutical sector appeared first on News24-English.

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