Indian govt to support pharma clusters and MSMEs units

The Indian government has launched three schemes to strengthen the micro, small and medium enterprises (MSMEs) in the pharmaceutical sector, with an aim to support pharma clusters and MSME units to enhance quality and technology improvement.

Looking to strengthen the supply chain of the pharmaceuticals industry, of which MSMEs are an integral part, the government will also incentivize such businesses for getting Schedule M certification or Good Manufacturing Practice (GMP) certification by the World Health Organization.

Chemicals and Fertilizers Minister Mansukh Mandaviya said smaller companies in the drug industry should be able to upgrade their facilities to global manufacturing standards, even as he rolled out the schemes under the banner of 'Strengthening Pharmaceuticals Industry' (SPI).

The SPI scheme provides for credit linked capital and interest subsidy for technology upgradation of MSME units in the pharmaceutical sector, as well as support of up to $2.50 million each for common facilities, including research centers, testing labs and effluent treatment plants in pharma clusters.

Objective is to make sector much more competitive