DoP seeks Cabinet Approval for National Policy on Research & Innovation in Pharma-MedTech Sector and PRIP scheme

The Department of Pharmaceuticals (DoP) has submitted to the Cabinet Secretariat the final cabinet note on the National Policy on Research and Innovation in the Pharma-MedTech Sector, which aims to catalyse research and innovation in both the pharmaceutical and medical device sectors in the country. It is also in the process of submitting to the Cabinet Secretariat for Cabinet approval the Scheme for Promotion of Research and Innovation in Pharma-MedTec (PRIP), which was announced in the Union Budget earlier this year.

According to the Department, the PRIP Scheme and the National Policy on Research and Innovation in the Pharma-MedTech Sector were submitted to the Empowered Technology Group (ETG) and were discussed at the Group's meeting on May 24, 2023. On May 31, 2023, the DoP received the meeting minutes. The DoP has now said that the ETG has also shared its suggestions with the DoP on the National Policy and it has revised the cabinet note according to this. The final cabinet note was sent on June 21, 2023 to the Cabinet Secretariat/PMO after receiving approval from the Minister, it said.

As reported earlier, while the DoP has submitted a proposal for the PRIP Scheme with an outlay of Rs. 7,150 crore to the Economic Finance Committee (EFC), the Committee in its meeting held on March 15, 2023 recommended the scheme with an overall outlay of Rs. 5,000 crore. In her Budget Speech in the Parliament on February 1, 2023, the Minister said, "A new programme to promote research and innovation in pharmaceuticals will be taken up through centers of excellence. We shall also encourage industry to invest in research and development in specific priority areas." The allocation for development of pharmaceuticals is also expected to see a significant jump in the coming fiscal year, according to the budget estimates.