India's Pharma MedTech Transformation: PRIP Scheme's Ambitious Journey

The Department of Pharmaceuticals is seeking expressions of interest from various entities to participate in the PRIP scheme, with an aim to advance India as a global leader in Pharma MedTech R&D. Launched on August 17, 2023, the scheme offers a financial outlay of Rs 5,000 crore.

The Department of Pharmaceuticals has opened the doors for expressions of interest in its latest endeavor, the Promotion of Research and Innovation in Pharma MedTech (PRIP) scheme, aimed at turning India into a global R&D leader.

Announced on August 17, 2023, this ambitious scheme boasts a significant financial outlay of Rs 5,000 crore, with Rs 4,250 crore specifically earmarked for robust investments in the sector's R&D ecosystem.

Interested entities, including proprietary firms, partnerships, startups, and registered companies in India, are invited to participate, contributing to and benefiting from the transformation journey towards a leading R&D innovation hub.