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Research & Development (R&D) policy
Why is it in news?
- The Centre will soon unveil a new Research & Development (R&D) policy to boost drug discovery and the manufacture of medical devices in the country.
Details:
- The numerous production-linked incentives are on the anvil.
- The government proposes to set up three major manufacturing parks including one in Hyderabad, with an investment of ₹1,000 crore each.
- The parks to help drive import substitution of basic raw materials, active pharmaceutical ingredients (API) and the making of medical devices.
Background:
- The current approval processes were archaic.
- There was a dire need to strengthen institutions and recognise scientists’ role in new discoveries, and to help them commercialise the projects.
Need:
- There had to be renewed focus on bringing together research institutions, academia and the industry to identify new chemicals, update processes and discover new drug delivery systems.