Govt shortlists 8 MSME pharma projects under API-CF sub scheme

New Delhi, Mar 14 (KNN) The government has approved support for a total of 8 MSME projects under the Assistance to Pharmaceutical Industry for Common Facilities (API-CF) sub-scheme, as on date, informed the Minister of State for MSME, Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha on Monday.

The total amount invested in three projects to strengthen the existing pharmaceutical MSME clusters for their sustained growth by creating common facilities is approximately Rs 54.73 crore.

The Department of Pharmaceuticals, is implementing the scheme of Strengthening of Pharmaceutical Industry (SPI), with a financial outlay of Rs 500 crore and tenure from FY 2021-2022 to FY 2025-26.

The three projects are Chennai Pharma Industrial Infrastructure Upgradation Company (CPIIUC), Inducare Pharmaceuticals and Research Foundation (IPRF) and Kala Amb Infrastructure Development Company (KIDC).

The Minister further informed that two new projects of MSME Pharma clusters have been approved under API-CF from Telengana, out of which one project has been accorded final approval and one project has been accorded ‘in-principle’ approval.

There is no plan to increase the financial assistance limit of Rs 20 crore under the sub-scheme API-CF of Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, he said.

However, Ministry of MSME is implementing MSE-CDP under which, the upper limit of project cost for considering GoI grant for setting up of CFCs has been enhanced from Rs 20 crore to Rs 30 crore in the New Guidelines of the scheme.

The upper limit of project cost of Rs 30 crore is applicable for pharma clusters also. The scheme is a demand driven Central Sector Scheme and State Governments can send proposals as per the new scheme guidelines.  (KNN Bureau)