New VC fund for India's pharma industry
28-Jun-15, ET Healthworld
The government plans to set up Rs500 crore venture capital fund to boost domestic pharma industry and provide cheaper loans to entities looking to establish or upgrade manufacturing facilities.
%20ET%20Healthworld.jpg "New VC fund for Indias pharma industry (c) ET Healthworld")
Image: ET Healthworld
The government is working on various proposals, including single window clearance for drug approvals, to rejuvenate the local pharma sector and make medicines more affordable.
The steps were suggested in a report submitted to Chemicals and Fertilisers Minister Ananth Kumar, who said this is in line with the government's 'Make in India' policy. The report also said the DoP may also come up with seed capital and facilitate funding for the medium and small scale pharmaceuticals industry.