The government has begun stakeholder consultations to identify 'moonshot' projects and role of industry as it plans to roll out its latest budget proposal to promote research and innovation in the pharmaceutical sector to be taken up through centres of excellence. "We will finalise the moonshot projects, and the quantum of investment required by March end in consultation with the stakeholders; the programme will be rolled out two-three months thereafter," Yuvaraj said. "The government will be investing in these projects, along with the private sector participation," he added.Yuvaraj said the industry response has been encouraging so far. An industry person said some of the moonshot research projects will be specific to India requirements like precision medicine, infectious diseases, chronic disease management, artificial intelligence , among others.Finance minister Nirmal Sitharaman in her latest budget announced a new programme to promote research and innovation in pharmaceuticals, which will be taken up through centers of excellence. Indian industry has been asking for tax rebates on investments in R&D, and urging the government to take steps to actively foster innovation through strengthening research in the public academic institutions.

Source: Economic Times February 14, 2023 07:10 UTC