PIB News Update: Union Minister of Chemicals & Fertilisers Shri DV Sadananda Gowda has that Department of Pharmaceuticals is finalizing guidelines which will form basis for objectively selecting locations of upcoming three bulk drugs parks and four medical devices parks in the country. Finance Minister of Punjab Shri Manpreet Singh Badal met Shri D.V. Sadananda Gowda in New Delhi today and handed over request letter to Shri Gowda, for considering setting up of one of the proposed Bulk Drug Park in Bhatinda in the State of Punjab.
Shri Gowda thanked Shri Badal for showing interest in extending support for development of parks. Speaking on the occasion Shri Badal said that the location at Bhatinda has good connectivity, water and land availability, and the State already has presence of some of biggest USFDA approved pharmaceutical companies and pharma institutes like NIPER, IISER, AIIMS among others.
In order to encourage domestic production of critical APIs/ KSM and medical devices, Union Cabinet on March 12, 2020 has approved a scheme for development of three bulk drugs and four medical devices parks in which Government of India will extend Grants-in-Aid to States with a maximum limit of Rs. 1000 Crore per bulk drug park and Rs 100 crore per medical device parks. In addition, the Government of India have also announced a Production Linked Incentive scheme for promoting domestic manufacturing of key critical Starting Materials/Drug Intermediates & APIs and medical devices across the country. Total financial implications of these schemes would be about Rs 13760 crore. The scheme for promotion of bulk drug park is expected to result in incremental production of bulk drugs worth about Rs 46,400 crore, while scheme for promotion of medical device park will lead to incremental production of medical devices worth about Rs 68,437 crore. These schemes will also result in significant generation of jobs .