The Indian Drug Manufacturers Association (IDMA) will soon submit a list of over 100 pharmaceutical equipments and machineries required as per the revised Schedule M to the ministry for small, medium enterprises (MSME) to make them eligible for funding under the Credit Linked Capital Subsidy Scheme (CLCSS).
The current database with the ministry to provide financial assistance to the small and medium scale companies to upgrade the manufacturing plant consists of the machines as per old standards and does not serve the purpose to the companies at present.
The Small and Medium Enterprises (SME) sub-committee of IDMA has prepared a list of more than 100 equipments and machineries required for the pharma manufacturing plants according to the revised Schedule M as per the direction of the MSME ministry. The new list would be submitted to the ministry for its consideration within a week, according to sources.
"The new list will have the updated information on the types of machineries and equipments required as per the latest manufacturing standards and their prices. The list will help the ministry to identify the increased needs of the industry for financial support. Our intention is to hasten the funding project to serve the pharmaceutical companies to upgrade as per the revised Schedule M," said S V Veeramani, chairman, SME sub- committee, IDMA.
The CLCSS offers an amount up to Rs 1 crore as loan for the pharmaceutical companies for upgradation of manufacturing plant, in which 15 per cent is allocated as subsidy. As reported earlier, the government is examining options to increase the loan limit to Rs 1.5 crore.
The association will also urge the ministry to remove the bottlenecks in the Pharmaceutical Technology Upgradation Fund (PTUF), proposed earlier with Rs 560 crore allocations and which was rejected by the Planning Commission. IDMA, within a week, will submit its request to the MSME ministry and the Department of Pharmaceuticals projecting the need and scope of launching the fund as early as possible and seeking support to get the scheme approved from the Planning Commission.