#Government_Scheme_2018
▪ The Union Government (Ministry of Finance) has signed a Loan Agreement with the World Bank for IBRD credit of US$ 125 (equivalent) for Innovate in India for Inclusiveness Project.
▪ The objective of project is to nurture indigenous innovation, foster local product development and accelerate commercialization process in biopharmaceutical and medical devices industry in India.
➡ Know all about Project
▪ The projects seeks to achieve its objective by bridging critical skill and infrastructure gaps to promote affordable and innovative healthcare products generation for inclusive development and increasing competitiveness in India.
▪ The project will support consortia of public, private, and academic institutions to overcome key market failures currently holding back development of innovative biopharmaceutical and medical devices industry in India.
▪ The components of project are strengthening of pilot-to market innovation ecosystem, accelerating of pilot to market process for specific products and project management and monitoring and evaluation. The closing date of project is June 2023.
#Daily_One_Government_Scheme