Published: 02nd April 2020
Tamil Nadu guarantees 50% off-take of drugs, ventilators production
The measures were announced to meet the increased demand for the above items to treat the increasing Coronavirus infected persons in the state
In order to boost the manufacture of anti-malarial, anti-viral drugs, invasive ventilators, intensive care unit (ICU) monitors, masks and personal protective equipment (PPE), the Tamil Nadu government on Thursday announced incentives like guaranteed off-take, interest subsidy and others.
The measures were announced to meet the increased demand for the above items to treat the increasing Coronavirus infected persons in the state. According to the government, eligible units will be provided with guaranteed sourcing of 50 per cent of the production by Tamil Nadu Medical Services Corporation, 30 per cent investment subsidy subject to a maximum of Rs 20 crore spread out equally over five years, micro/small/medium scale units involved in the production of the above items will be classified as `Thrust Sector' and be offered the existing incentives.
The units can start production and necessary permissions could be obtained later under single window clearance process. There will be a 100 per cent exemption from stamp duty. The interest subsidy on the working capital loan will be up to six per cent for two quarters till December 31, 2020.