New Schemes to Strengthen Pharmaceutical MSMEs

On July 21, 2022, the union government launched new schemes to strengthen micro, small, and medium enterprises (MSMEs) in the pharmaceutical sector.

  • The objectives of the schemes, launched under the banner ‘Strengthening Pharmaceuticals Industry‘ (SPI), include technology upgradation, setting up common research centers, and operating effluent treatment plants in clusters for pharmaceutical MSMEs.
  • Small Industries Development Bank of India(SIDBI) will be the project management consultant for implementing the scheme.

About the Schemes

PTUAS: The Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS) would facilitate pharmaceutical MSMEs with proven track record to upgrade their technology.

Expected Impact: Addressing Demand: The scheme will address the rising demand in terms of support required to existing pharma clusters and MSMEs across the country.

  • Enabling Holistic Development: The schemes will increase investment, encourage research and innovation and enable the industry to develop futuristic products and ideas.
  • Making Atmanirbhar: The new schemes have many benefits that will go a long way in making the Indian pharmaceutical industry Atmanirbhar, more resilient and future-ready.

National Startup Advisory Council (NSAC)

It was constituted by the Department for Promotion of Industry and Internal Trade (DPIIT) to advise the government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale employment opportunities.

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