The Department of Pharmaceuticals (DoP) has issued a call for Expressions of Interest (EoI) from various entities for project funding under the Promotion of Research and Innovation in Pharma MedTech sector (PRIP) scheme.

This initiative aims to position India as a global leader in research and development within the pharmaceutical and medical technology sectors.

This is regarding the announcement made on August 17, 2023, the PRIP scheme has a total financial outlay of INR 5,000 crore, with INR 4,250 crore specifically allocated to enhance the R&D ecosystem in these sectors. The DoP is seeking participation from proprietary firms, partnership firms, limited liability partnerships, startups, and companies or groups of companies registered in India.

In a related development, the DoP had previously invited sealed bids from reputed, experienced, and empanelled agencies with the Government of India to conduct long-term and short-term studies related to the pharmaceutical and medical devices sectors. The original tender notice, dated October 22, 2021, outlined the scope of these studies.

These initiatives underscore the government's commitment to fostering innovation and research in the pharmaceutical and medical technology sectors, encouraging stakeholders to actively participate in shaping India's journey toward becoming an R&D innovation hub.