n employee (back) stands behind the counter and a rope barrier for 'safe distance' from customers as a preventive measure against the COVID-19 coronavirus in a pharmaceutical store in New Delhi on March 18, 2020. - AFP
MUMBAI: India will set up a nearly 100-billion-rupee (US$1.3bil) 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 program 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.
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