To encourage investment, research & innovation, to enable the sector to develop futuristic products and ideas, the Government has released announced 3 new schemes for MSMEs in the Pharma Sector.
The aim is to strengthen the MSMEs in the Pharma sector by providing support in upgrading their facilities to global manufacturing standards.
This announcement made on July 21, 2022, by the Ministry of Chemicals and Fertilisers rolled out the new schemes under the banner of ‘Strengthening Pharmaceuticals Industry’ (SPI).
The New Schemes are:
~Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS)–
~Assistance to Pharma Industries for Common Facilities Scheme (API-CF)
~Pharmaceutical and Medical Devices Promotion and Development Scheme (PMPDS)
Watch LawWiser’s video on this new update to know all the important details!