The government of India plans to set up a venture capital fund worth 500 cr to boost the domestic pharma industry and also encourage establishing / upgrading domestic manufacturing facilities by providing loans cheaper. READ ALSO: The Indian Healthcare Market Overview. To make the medicines more affordable and rejuvenate the sector, the government worked on different proposals including the single window clearance system. Minister of Chemicals and Fertilisers, Mr. Ananth Kumar received the report containing these steps suggested by Department of Pharmaceuticals (DoP) formed task force. READ ALSO: Indian Dental Market.

“The Ministry will take actions on all the steps suggested as this promotes Make in India which is in line with the government’s plan” Mr Ananth Kumar said while releasing the report. In the report titled “Recommendations of the Task Force on Enabling Private Sector to lead the growth of Pharmaceutical Industry”, the task force has said a pharma specific venture fund is what the department should come up with to improve drug design and discovery. The Department of Pharmaceuticals is working on proposals of venture capital fund worth 500 cr, soft loans and interest subsidy said a source. These are recommended to compete with highly regulated international markets.