DV Sadananda Gowda, Union Minister of Chemicals & Fertilisers Shri informed that Department of Pharmaceuticals is finalising guidelines which will form the basis for objectively selecting locations of upcoming three bulk drugs parks and four medical devices parks in the country.
Today, Manpreet Singh Badal, Finance Minister of Punjab met Gowda in New Delhi and handed over a request letter to him to consider setting up of one of the proposed bulk drug parks in Bhatinda, Punjab.
Badal said that the location at Bhatinda has good connectivity, water and land availability, and the State already has the presence of some of biggest USFDA approved pharma companies and pharma institutes like NIPER, IISER, AIIMS among others.
In order to encourage domestic production of critical APIs/ KSM and medical devices, Union Cabinet on March 12, 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 crores per bulk drug park and Rs 100 crores per medical device park.
In addition, the Government of India has also announced a Production Linked Incentive scheme for promoting domestic manufacturing of key critical starting materials/drug intermediates and APIs and medical devices across the country. Total financial implications of these schemes would be about Rs 13760 crores. The scheme for promotion of bulk drug park is expected to result in incremental production of bulk drugs worth about Rs 46,400 crores, while scheme for promotion of medical device park will lead to incremental production of medical devices worth about Rs 68,437 crores.