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India approves $610 million grant for Serum Institute, Bharat Biotech to boost vaccine production capacity

Of the total, SII will get Rs 30 billion ($400 million) and the rest will go to Bharat Biotech

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India’s government has approved a 45.67-billion-rupee ($610 million) grant for COVID-19 vaccine makers Serum Institute of India (SII) and Bharat Biotech to boost production capacity as infections spread at record speed, its finance minister said.

Of the total, SII will get Rs 30 billion ($400 million), Nirmala Sitharaman told news channel CNBC-TV18.

SII sought the funds to increase its monthly capacity to more than 100 million doses by the end of May, from up to 70 million currently.

“We are clear that we will give whatever support is necessary to develop and boost the availability of vaccines in the country,” a government source said, declining to be named as he was