Government focusing on developing small pharma firms
- Post By : Khushboo Sharma
- Source: Microbioz India
- Date: 03 July, 2018
A big news for the small pharma firms who are looking forward to expand their business, the Union government is ready to provide an interest subvention scheme for the small pharma companies to expand their infrastructure and technologies for a better development. In this scheme the government will tolerate the interest burden of 6% on loan of up to 4 crores for a period of 3 years.
According to the sources the DoP (Department of Pharmaceuticals), who has proposed the scheme, has the budget of around 144 crores for the year 2018-20, with an aim to help around 250 SME pharma companies.
The main aim of this scheme is to provide interest subvention to SME pharma companies having GMP, compliant manufacturing facilities both for the bulk drugs and formulations.
Indian Drug Manufacturers’ Association (IDMA) president Deepnath Roy Chowdhury welcomed the move. “It’s a welcome step. We have been pursuing the government for something like this,” he said..
“This has been intended to improve the manufacturing practices and, therefore, quality of the medicines,” said Navdeep Rinwa, joint secretary in the DoP.
Indian Drug Manufacturers’ Association (IDMA) president Deepnath Roy Chowdhury welcomed the move. “It’s a welcome step. We have been pursuing the government for something like this,” he said.