India to spend $1.3bn to boost pharmaceutical production
The railways ministry said passenger rail will stop with immediate effect though freight services will continue, according to a statement on Sunday.
India suspended passenger train services across the country until March 31 as the government tries to curb the spread of the coronavirus outbreak.
The railways ministry said passenger rail will stop with immediate effect though freight services will continue, according to a statement on Sunday.
Pharmaceutical boost
Meanwhile, India will also set up a nearly 100-billion-rupee ($1.3 billion) fund to encourage companies to manufacture pharmaceutical ingredients domestically after supply chain disruptions due to the coronavirus pandemic exposed the country’s dependence on China and raised the spectre of drug shortages.
The programme includes spending on infrastructure for drug manufacturing centres, and financial incentives of up to 20% of incremental sales value over the next eight years, according to a government statement.
India imports almost 70% of its active pharmaceutical ingredients — the chemicals that make a finished drug work — from China. A number of those chemicals are sourced from Hubei province, the epicentre of the coronavirus outbreak. As the world’s single largest exporter of generic drugs, India is responsible for about 20% of the world’s supply.
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