Advertisement

HindustanTimes Tue,16 Sep 2014

Govt to set-up Rs. 2,000-cr VC fund to promote drug discovery

PTI  Mumbai, November 30, 2010
First Published: 16:49 IST(30/11/2010) | Last Updated: 16:53 IST(30/11/2010)

The Government is planning to set up a Rs. 2,000-crore venture capital fund to promote drug discovery and strengthen the infrastructure of the pharma sector in the country, a top Government official said on Tuesday.

Advertisement

"The Government is in the process of appointing a consultant for preparation of a Detailed Project Report (DPR) in this regard (for developing India as a drug discovery and pharma innovation hub).

The total corpus of the fund will be Rs. 2,000-crore," Department of Pharmaceuticals, Secretary, Mukul Joshi, told reporters on the sidelines of a FICCI event on the pharma industry here.

The selection of a consultant would be made by the year-end, he said. Joshi further said that in a bid to give a fillip to the pharma industry, the Government is planning to set up pharma parks.

"The Government is also planning to set up a few pharma parks in association with State Governments in the country. All is in planning stage... nothing has been finalised," Joshi said.


Advertisement
more from Business

Govt to decide on diesel deregulation after state polls

The local prices of the fuel are currently higher than the global rates, making a case for a cut in retail prices.This is for the first time this has happened,  due to a sustained monthly rise in local prices since January 2013.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved