Government Approves Rs 1,600 Crore for 41 Pharma and MedTech Innovation Projects Under PRIP Scheme's First Round
Distilled Policy Brief
- These approved projects are expected to attract an additional private investment of 3,020 crore rupees, bringing the total research and development investment in these projects to approximately 4,620 crore rupees.
- Out of the 41 approved projects, 19 are being undertaken by startups and MSMEs, while 22 are being executed by large companies.
🎯 Prelims High-Yield Examination Points
Under the first round of the PRIP (Promotion of Research and Innovation in Pharma-MedTech sector) scheme, 1,600 crore rupees has been approved for 41 pharma and medtech innovation projects, catalyzing a total R&D investment of about 4,620 crore rupees.
⚖️ Mains Analytical & Syllabus Linkages
Analyze how the shift from a volume-based pharmaceutical model to an innovation-driven, technology-led model through initiatives like the PRIP scheme can enhance India's global competitiveness in healthcare and biotechnology.
🎯 UPSC Prelims Practice Drill
With reference to the first round of the Promotion of Research and Innovation in Pharma-MedTech (PRIP) scheme, consider the following statements: 1. Out of the approved projects, a majority are being undertaken by startups and MSMEs rather than large companies. 2. The approved projects cover innovations across the value chain, including new drug discovery and novel medical technologies. Which of the statements given above is/are correct?
- [A] 1 only
- [B] 2 only
- [C] Both 1 and 2
- [D] Neither 1 nor 2
▶ Reveal Official Answer & Analytical Explanation
Statement 1 is incorrect because out of the 41 approved projects, 19 are being undertaken by startups and MSMEs, while 22 are being executed by large companies (meaning large companies hold the majority). Statement 2 is correct as the approved portfolio includes the innovation value chain covering new drug discovery, clinical development, and novel medical technologies.
🏛️ Historical Twin PYQ Anchor (2021)
Consider the following statements regarding the "National Clean Air Programme (NCAP)": 1. It is implemented by the Ministry of Environment, Forest and Climate Change. 2. Central Pollution Control Board acts as the sole regulatory executive body.