The Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) has signed a Memorandum of Understanding (MoU) with Council of Scientific and Industrial Research – Indian Institute of Chemical Technology (CSIR-IICT) to establish a bulk drug park in the state.
CSIR-IICT is the knowledge partner and will offer needed technical backing to make the proposal which will be submitted by the Andhra Pradesh government to the Department of Pharmaceuticals to seek financial assistance from the Centre. The Mou was signed in the virtual presence of Mekapati Goutham Reddy, Minister for Industries, Andhra Pradesh.
The Government of India has recently launched a scheme for the development of three bulk drugs and four medical device parks with grants-in-aid to states with a maximum limit of Rs 1,000 crore.