The Indian government has unveiled a ₹5,000 crore incentive scheme to stimulate drug, therapy, and medical device innovation a bold push beyond its generics legacy.
Glimpse:
A new policy invite urges private firms and academic institutions to engage in R&D across the pharmaceutical and MedTech sector. The objective: evolve India into a discovery-driven biopharma hub and reduce dependency on imports.
In a move aimed at restructuring India’s pharmaceutical landscape, the government has launched an ambitious ₹5,000 crore scheme called PRIP (Promotion of Research and Innovation in Pharma MedTech Sector). The program seeks to incentivize research into novel drugs, diagnostics, and medical devices, rather than dependence on generics alone.
Under the scheme, eligible entities from startups to established firms can apply for grants, tax breaks, and regulatory fast tracking. Regional innovation clusters are expected to receive support, especially in biotech hubs like Hyderabad. The policy signals a paradigm shift in India’s healthcare manufacturing vision.
“India cannot remain the world’s pharmacy if it fails to become its lab.”
By
HB Team
