Union Minister for Chemicals and Fertilizers Dr Mansukh Mandaviya has said that the government will soon launch a new scheme for Promotion of Research and Innovation in Pharma- Med Sector- PRIP with a total outlay of five thousand crore rupees. Last month, the Union Cabinet had given its approval to this scheme for a period of five years form 2023-24 to 2027-28.

He added that the objective of the PRIP Scheme is to transform Indian Pharma Med Tech sector from cost based competitiveness to innovation based growth by strengthening the research infrastructure in the country. Out of the five thousand crore rupees earmarked for the scheme, 700 crore rupees will be for strengthening the research infrastructure through Centres of Excellence in the seven existing  National Institutes of Pharmaceutical Education and Research located in the areas including in Mohali, Ahmedabad, Hyderabad and Kolkata. Dr Mandaviya said that the focus of the government is to promote the growth of pharma industry in the country , enhance manufacturing of drugs and promote research and innovation in the sector.