The government on Tuesday said it is considering forming a venture capital fund of Rs 2,000 crore (Rs 20 billion) to promote research and development (R&D) in the pharmaceutical sector.
“We are considering a proposal of venture capital fund of Rs 2,000 crore for drug industry. We are talking with Exim Bank for this,” Commerce and Industry Minister Anand Sharma said.
Sharma was reviewing the pharma sector with industry representatives and government secretaries.
In the meeting, the pharma industry representatives raised issues like problems in getting approvals from the Health Ministry.
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