"The government has decided to establish 3 bulk drugs and 3 medical devices parks across the country. NEW DELHI: To reduce import dependence, the government has decided to establish six bulk drug and medical devices parks, which will entail a combined investment of Rs 60,000 crore. "As much as 80 per cent of our total requirement of bulk drugs/APIs and 65 per cent of total demand of medical devices is met through imports. These parks will require an investment of about Rs 60,000 crore," Fertiliser Minister Ananth Kumar told PTI.As per various estimates, once these parks become operational, they can bring down the cost of production of devices and bulk drugs by at least 30 per cent and in long-run, this will help the general public also, he said. So, we want this to be reduced by facilitating domestic manufacturing," Kumar said.These parks will be established on the public private partnership (PPP) mode and the centre is in talks with various states for setting up of these parks, he said.

Source: Economic Times June 05, 2016 08:37 UTC