: Ministry of Chemicals launch schemes for Tech Upgrade, Research Center & CETPs for Pharma MSMEs #FinanceIndia #StockMarketNEWS New Delhi, July 22 (KNN) Three schemes focusing on Micro, Small and Medium

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Ministry of Chemicals launch schemes for Tech Upgrade, Research Center & CETPs for Pharma MSMEs #FinanceIndia #StockMarketNEWS
New Delhi, July 22 (KNN) Three schemes focusing on Micro, Small and Medium Enterprises (MSMEs) in the pharmaceutical sector were launched on Thursday.

The objectives of the schemes is technology upgradation, setting up of common research centres and effluent treatment plants in clusters for the pharma MSMEs, said Union minister Mansukh Mandaviya.

Facilities of small companies will be upgraded to global manufacturing standards with the help of the scheme, he said.

The schemes are announced under the banner of Strengthening Pharmaceuticals Industry (SPI).

Speaking on the launch, the Minister said, "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.”

The schemes provide for credit linked capital and interest subsidy for technology upgradation of MSME units in pharmaceutical sector, as well as support of up to Rs 20 crore each for common facilities, including research centre, testing labs and ETPs, in pharma clusters.

SIDBI will be the project management consultant for implementing the scheme.

The Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS) would facilitate pharmaceutical MSMEs with proven track record to upgrade their technology.

The scheme has provisions for a capital subsidy of 10 per cent on loans up to a maximum limit of Rs 10 crore with a minimum repayment period of three years or interest subvention of up to 5 per cent (6 per cent in case of units owned by SC/ST) on reducing balance basis.

Similarly, Assistance to Pharma Industries for Common Facilities Scheme (API-CF) would strengthen the existing pharmaceutical clusters capacity for sustained growth. It provides for an assistance of up to 70 per cent of the approved project cost or Rs 20 crore, whichever is less.

In case of Himalayan and north-east region, the grant-in-aid would be Rs 20 crore per cluster or 90 per cent of the project cost, whichever is less.

Pharmaceutical and Medical Devices Promotion and Development Scheme (PMPDS) would involve preparation of study reports on topics of importance for the Indian pharma and medical device industry.

The scheme is aimed at creating a database of pharma and medical device sectors. (KNN Bureau)