The government today said it is examining a proposal for setting up a venture capital fund to promote drug discovery in India.
"The department of pharamceutical is in the process of examining a proposal to set up a venture fund for promoting pharma discovery and innovation," Minister of State for Chemicals and Fertilisers Srikant Kumar Jena said in a written reply to the Lok Sabha.
He said that currently the National Institute of Public Finance and Policy is preparing details of the fund.
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