Serum hails financial aid from govt to ramp up Covid-19 vaccine production
The Hindu
Sources said the finance ministry has relaxed rules to allow advance payment without bank guarantee to help the vaccine makers ramp up production.
Vaccine major Serum Institute of India (SII) on Tuesday hailed government's initiative to provide financial aid to manufacturers to ramp up production of COVID-19 vaccine in the country. "On behalf of the vaccine industry in India, I would like to thank and applaud Shri @narendramodi Ji, @nsitharaman Ji, for your decisive policy changes and swift financial aid which will help vaccine production and distribution in India," SII CEO Adar Poonawalla said in a tweet. In order to ramp up supplies ahead of the opening of Covid-19 vaccination to all citizens over 18 years of age, the government has approved a payment of about ₹ 4,500 crore as advance to vaccine makers like Serum Institute of India (SII) and Bharat Biotech against future supplies, sources said.
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