The Centre has assigned an outlay of500 crore for the period from fiscal FY 21-22 to FY 25-26.
The main objectives of the scheme are to strengthen the existing infrastructure facilities in order to make India a global leader in the Pharma Sector.
Under the Scheme, financial assistance to pharma clusters will be provided for creation of Common Facilities.
This will not only improve the quality but also ensure the sustainable growth of clusters.
Further, in order to upgrade the production facilities of SMEs and MSMEs so as to meet national and international regulatory standards (WHO-GMP or Schedule-M), interest subvention or capital subsidy on their capital loans will be provided, which will further facilitate the growth in volumes as well as in quality.