3 new schemes for pharma MSMEs

New Delhi: The government on Thursday launched three schemes to strengthen Micro, Small and Medium Enterprises (MSMEs) in the pharmaceutical sector.

Speaking at the launch event here, Union minister Mansukh Mandaviya noted that the schemes envisage technology upgradation, setting up of common research centres and effluent treatment plants in clusters for the pharma MSMEs.

Small companies should be able to upgrade their facilities to global manufacturing standards, he said. The chemicals and fertilisers ministry rolled out the schemes under the banner of 'Strengthening Pharmaceuticals Industry' (SPI).

"I believe the pharma MSME industry will greatly benefit from the schemes. The new schemes have many benefits that will go a long way in making the Indian pharmaceutical industry Atma Nirbhar, more resilient and future-ready," said Mandaviya, who heads both health as well as chemical and fertilisers ministries.

The Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS) would facilitate pharmaceutical MSMEs with proven track record to upgrade their technology. The scheme has provisions for a capital subsidy of 10 per cent on loans up to a maximum limit of Rs 10 crore with a minimum repayment period of three years or interest subvention of up to 5 per cent (6 per cent in case of units owned by SC/ST) on reducing balance basis.