Archive · 17 Sep 2025
Government to Launch Pharma Innovation Scheme This Month
The Indian government is launching a program to help improve the pharmaceutical and medical technology sectors.
The scheme, called PRIP, will provide funds to support companies in research and development.
It aims to encourage innovation in these industries, including medical devices.
The government also plans to boost the production of crucial materials within India.
Medical device parks are planned to be functional by early 2027.
The scheme will offer financial support depending on the proposal stage.
The government is set to launch the PRIP scheme this month.
PRIP will focus on innovation in the pharma and medtech sectors.
The total financial outlay for the scheme is Rs 5,000 crore.
The scheme will offer funding between 35% and 50% of project costs.
Three medical device parks are expected to be functional by early 2027.
- Who
- The Indian government
- What
- Is launching the PRIP scheme
- When
- This month
- Where
- India
- Why
- To promote innovation in pharma and medtech sectors
- Scheme Name
- Promotion of Research and Innovation in Pharma MedTech (PRIP)
- Financial Outlay
- Rs 5,000 crore
- Scheme Focus
- Pharma and MedTech
- Funding Support
- 35%-50% of project cost
- Medical Device Parks
- 3 parks planned by early 2027
Sources
Scheme to promote innovation in pharma, medtech sectors to be launched this month: Pharma Secy
3 Indian MedTech stocks powering a Rs 4.4 lakh crore opportunity
Scheme to boost innovation in pharma sector soon, says DoP secretary - Healthcare News
