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Why in the News?
Recently, the government launched three schemes to strengthen Micro, Small and Medium Enterprises (MSMEs) in the pharmaceutical sector.Key Points:
- The schemes envision
- Setting up of common research centres
- Technology upgradation
- cluster of effluent treatment plants for the pharma MSMEs.
- Nodal Ministry: Ministry of Chemicals and Fertilizers
The three schemes are:
- The Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS):
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- It would facilitate pharmaceutical MSMEs with proven track record to upgrade their technology.
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- Assistance to Pharma Industries for Common Facilities Scheme (API-CF):
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- It would increase capability of current pharmaceutical clusters for sustained growth.
- It allows for financial support of up to 70% of the approved project cost.
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- Pharmaceutical and Medical Devices Promotion and Development Scheme (PMPDS):
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- It would involve preparation of study reports on topics of importance for the Indian pharma and medical device industry.
- It is aimed at creating a database of pharma and medical device sectors.
Significance:
- Encourage research and innovation
- Increase investment
- Enable the sector to develop futuristic products and ideas.
