India to Spend $1.3 Billion to Boost Pharmaceutical Production
A pedestrians wearing a protective mask walks past the Chhatrapati Shivaji Terminus (CST) train station in Mumbai on March 21.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
India will set up a nearly 100-billion-rupee ($1.3 billion) fund to encourage companies to manufacture pharmaceutical ingredients domestically after supply chain disruptions due to the coronavirus pandemic exposed the country’s dependence on China and raised the specter of drug shortages.
The program includes spending on infrastructure for drug manufacturing centers, and financial incentives of up to 20% of incremental sales value over the next eight years, according to a government statement.