SYLLABUS SECTION: GS III (ECONOMY)
WHY IN THE NEWS?
Recently, govt has launches 3 schemes to strengthen Micro, Small and Medium Enterprises MSMES in the pharmaceutical sector.
- The schemes envisage technology upgradation, setting up of common research centres and effluent treatment plants in clusters for the pharma MSMEs.
- The chemicals and fertilizers ministry rolled out the schemes under the banner of ‘Strengthening Pharmaceuticals Industry’ (SPI).
- The schemes provide for credit linked capital and interest subsidy for technology upgradation of MSMES 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.
- Initiatives are aimed at making Indian pharma MSMEs a part of Global supply chain by incentivizing them to acquire Schedule M or Good Manufacturing Practice (GMP) certification by WHO
- Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS)
- It would facilitate pharmaceutical MSMEs with proven track records to upgrade their technology.
- It provides for a capital subsidy of 10 % 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 % (6% in case of units owned by SC/ST) on reducing balance basis.
- Assistance to Pharma Industries for Common Facilities Scheme (API-CF)
- It would strengthen the existing pharmaceutical clusters’ capacity for sustained growth.
- It provides for an assistance of up to 70% of the approved project cost (90% for Himalayan and north-east region) or Rs 20 crore, whichever is less.
- Pharmaceutical and Medical Devices Promotion and Development Scheme (PMPDS)
- The scheme is aimed at creating a database of pharma and medical device sectors.
- It would involve preparation of study reports on topics of importance for the Indian pharma and medical device industry.
Read more: UPSC CURRENT AFFAIRS
SOURCE: BUSINESS STANDARD