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Expecting investments by partner firms in next few months, says Granules India

Updated : July 23, 2020 09:59 AM IST

Granules India is expecting investments by partner companies in the next few months, said Krishna Prasad Chigurupati, chairman and managing director of the pharmaceutical company.

“In the next one year, investments would start. We are in talks and if the talks are successful, we should see some investment by our partner companies in the next few months,” he said.

The government has notified a production-linked incentive (PLI) scheme for pharma with an outlay of around Rs 7,000 crore to boost domestic drug manufacturing.

This will provide 6 years of financial support to manufacturers of key starting materials, drug intermediaries, and active pharma ingredients (API) used in 41 identified products.

“To be eligible for these subsidies, the government has planned to split certain products to two or four companies and when you split into four companies, definitely the scale is not going to be there... The key is to have scale and technology and to have that, it is going to be limiting this to few plants,” said Chigurupati.
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