DoP earmarks Rs 300 crore for common facilities in medical parks
New Delhi : Department of Pharmaceuticals (DoP) has come up with a scheme to finance common facility centres like component and radiation testing in proposed medical device parks with an outlay of Rs 300 crore as it looks to curb import dependence.
"The Department has formulated a scheme for financing common facility centres in medical device park with an outlay of Rs 300 crore," DoP said in a statement.
Development of common facilitation centre for medical devices (DCFC-MD) scheme proposes to give Rs 25 crore or 70 per cent of cost of equipment and machinery and fixed assets as grant-in-aid for setting up of common facility centres like moduling centres, it added.
"The scheme also proposes to cater to all segments of medical device industry like electrical and electronic, biomaterial and implants, etc," it said.
The scheme also aims to offer similar benefits to medical devices park to be proposed by various state governments.
The plan has been appraised by standing finance committee (SFC) on July 26, and is being put up for approval of the Chemicals and Fertilisers Minister.
"It will be revised once approved by the Minister," the statement said.
To reduce import dependence, the government has decided to establish six bulk drug and medical devices parks, which will entail a combined investment of Rs 60,000 crore.
As per various estimates, once these parks become operational, they can bring down the cost of production of devices and bulk drugs by at least 30 per cent and in long-run, this will help the general public.
These parks will be established on the public private partnership (PPP) mode and the centre is in talks with various states for setting up of these parks.
The parks will have common facilities like testing, power and effluent treatment plants.