Chemical
Bulk drug & medical device parks to attract Rs. 77,900 Cr says Gowda
Government has launched schemes for development of three Bulk Drug Parks and four Medical Device Parks across the country.
- By Pravin Prashant
| August 20, 2020
The schemes for development of bulk drug and medical device parks are expected to attract cumulative investment of about Rs. 77,900 crore and generate about 255,000 employment says Union Minister of Chemicals and Fertilizers DV Sadananda Gowda.
"For the medical device sector alone, investment could be to the tune of Rs.40,000 crore with generation of 140,000 new employment opportunities," added Gowda.
Addressing the Inaugural Session of CII's 12th MedTech Global Summit Charting the MedTech route to AtmaNirbhar Bharat, Gowda said that to strengthen the country's drug security, the government is committed to build Aatmanirbharta in the pharma sector.
Government has launched schemes for development of three Bulk Drug Parks and four Medical Device Parks across the country. Apart from increasing central assistance for development of common infrastructure facilities in the parks, the government will also extend Production Linked Incentive (PLI) to manufacturers of bulk drugs and medical devices in these parks.
The minister said the government will provide an incentive at the rate of 5% on incremental sales for a period of five years from Fiscal Year 2021-22 to 2025-26, with a total outlay of Rs 3,420 crore.
Register Now to Attend E-Conference on Digital Transformation: The Catalyst for Agile and Smarter Process R&D on June 4 at 3:00 - 4:30 PM IST
Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2025 on June 18-19th 2025, The Leela Mumbai
