HIGHLIGHTS:
- The government has announced the instructions for the “Strengthening of Pharmaceutical Industry (SPI)” scheme
- The scheme’s entire financial outlay for three years is Rs.500 crore
- The program’s goal is to help pharmaceutical clusters and MSMEs improve their production & quality
The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers announced the instructions for the “Strengthening of Pharmaceutical Industry (SPI)” scheme.
Overview of the Program
The scheme’s entire financial outlay for three years is Rs.500 crore (FY 21-22 to FY 25-26).
The program’s goal is to help pharmaceutical clusters and Micro, Small, and Medium Enterprises (MSMEs) improve their production, quality, and long-term viability.
There are three sub-schemes
1. APICF (Assistance to Pharmaceutical Industry for Common Facilities) – The goal of this programme is to boost the capability of current pharma clusters and assure their long-term growth. In this order of priority, a budget of 178 crores is suggested to finance the construction of common facilities such as R&D labs, testing labs, effluent treatment plants, logistic centres, and training centres.
2. The Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS)- This programme aims to make it easier for MSMEs to comply with national and international regulatory requirements (WHO-GMP or Schedule-M). Interest subvention on capital loans of up to 5% per year (6 percent in the case of units owned by SC/STs) or a Credit linked Capital subsidy of 10% is planned with a financial investment of 300
Cr.
3. Pharmaceutical & Medical Devices Promotion and Development Scheme (PMPDS)- This is to aid the expansion of the pharmaceutical and medical device industries by increasing knowledge and awareness of the pharmaceutical and medical device industries. This component of the project has been allocated 21.5 crore . The initiative aims to improve India’s infrastructure and position it as a global leader in the pharmaceutical industry.
