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Norms being finalised to help govt select locations for bulk drug, medical devices parks

The schemes, approved on March 21, are expected to reduce the manufacturing cost of bulk drugs and medical devices here.

By: ENS Economic Bureau | New Delhi | Published: July 14, 2020 3:18:17 am
coronavirus, indian pharma industry, coronavirus economic impact, china drug import, china drug export, india crucial medicine, indian express India currently relies on China for nearly 70 per cent of its bulk drug imports, while 60-70 per cent of its medical devices are imported. (Express photo by Tashi Tobgyal)

The Department of Pharmaceuticals (DoP) is finalising guidelines that will help the Centre pick locations for the three bulk drug and four medical device parks announced in March to boost domestic capacity in these sectors and reduce import dependence.

The schemes, approved on March 21, are expected to reduce the manufacturing cost of bulk drugs and medical devices here. India currently relies on China for nearly 70 per cent of its bulk drug imports, while 60-70 per cent of its medical devices are imported.

Punjab has expressed interest to set up a bulk drug park in Bhatinda and sent a request for the same to Union Minister DV Sadananda Gowda. As per the bulk drug and medical device park schemes, the Centre will extend grants-in-aid to states with a cap of Rs 1,000 crore per bulk drug park and Rs 100 crore per medical device park.

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