PPP Model Can Make India One of Top 5 Global Pharma Innovation Hubs
Wednesday, August 31, 2016
New Delhi: To push India into top five pharmaceutical innovation hubs by 2020, the government is preparing for multi-billion dollar investment with 50 per cent public funding through its Public Private Partnership (PPP) model to enhance innovation capability, reveals the joint study of Assocham and TechSci Research.
The government has been very active in boosting growth and investment in the industry,” the study stated.
The government is looking at investing billions of dollars in the sector with 50 per cent public funding through its PPP, noted the joint study.
Currently, the government allows 100 per cent FDI (Foreign Direct Investment) under automatic route (without prior permission) in the pharmaceuticals sector.
“FDI favourably impacts the Indian pharma industry by providing access to more capital for investing in research and development, which in turn, leads to creation of more IPR (Intellectual Property Rights),” the study titled ‘IPR in pharmaceuticals: Balancing, innovation and access’, said.