India will set up a nearly $1.3 billion fund to encourage companies to manufacture active pharmaceutical ingredients domestically after supply chain disruptions due to the coronavirus pandemic exposed the country’s dependence on China and raised the specter of drug shortages. The program includes spending on infrastructure for drug manufacturing centers, and financial incentives of up to 20% of incremental sales value over the next eight years, according to a government statement. India imports almost 70% of its APIs from China. A number of those chemicals are sourced from Hubei province, the epicenter of the coronavirus outbreak. Learn More