New Delhi: The government has started preparations to increase their manufacturing in the country due to the problems of raw materials imported from China for medicines after the corona virus havoc. A package of about 10 thousand crore rupees has been announced for the pharma sector. The industry has also welcomed the Modi government's move.
The central government has said that in the next five years, three 'bulk drug parks' will be built in the country with an investment of about Rs 3000 crore. Along with this, the government will implement the Production Linked Incentive (PLI) scheme with an amount of about 6,940 crores in the next eight years to promote the manufacture of drug intermediate, active pharma ingredient (API) i.e. crude oil of the country. The plan was approved by the Union Cabinet on Saturday.
This will reduce the Indian pharmaceutical industry's dependence on China in manufacturing of drugs. Let us tell you that about three-fourths of the raw material required for the production of medicines in the country is imported from China. But in recent months, due to the havoc of Corona in China, the factories there were closed and due to this the Indian pharmaceutical industry got overwhelmed.
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