Photo for representational purpose only.
New Delhi, March 11
The Department of Pharmaceuticals has revamped a scheme which entails financial assistance to drug companies to help them upgrade their facilities to produce medicines conforming to global standards.
As per the revamped Pharmaceuticals Technology Upgradation Assistance Scheme (PTUAS), the government has expanded the scope of the initiative beyond MSMEs to include any pharmaceutical manufacturing unit with a turnover of less than Rs 500 crore that requires technology and quality upgradation, the Chemicals and Fertilisers Ministry said in a statement.
Preference however remains for MSMEs, supporting smaller players in achieving high-quality manufacturing standards, it added.
The revamped scheme also introduces more flexible financing options, emphasising subsidies on reimbursement basis, over traditional credit-linked approach.
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