Govt approves Rs 13K-crore package to boost bulk drugs manufacture

Industry feels India first needs to tap existing capacity before setting up new drugs parks

The Union government on Saturday approved a package comprising four schemes with a total outlay of Rs 13,760 crore to boost the domestic production of bulk drugs and medical devices and exports.

The Union Cabinet chaired by Prime Minister Narendra Modi approved outlay of Rs 9,940 crore and Rs 3,820 crore for bulk drugs and medical devices, respectively, Minister of State for Chemicals and Fertilizers Mansukh Mandaviya told reporters.

The Cabinet also approved a sum of Rs 3,000 crore for the next five years for a scheme to promote bulk drug parks and for financing common infrastructure facilities at three such parks,