NEW DELHI, Nov. 12 (Xinhua) -- Indian Minister of Finance and Corporate Affairs Nirmala Sitharaman Thursday announced a grant of over 120.6 million U.S. dollars for the research and development of COVID-19 vaccine.
The announcement came during the spelling out of the third stimulus for the revival of economy in the wake of the ongoing COVID-19 pandemic.
"Rupees 900 crore (120.6 million U.S. dollars) provided for COVID-19 Suraksha (prevention) Mission for Research and Development of Indian COVID-19 vaccine to department of Biotechnology," Sitharaman said.
At present three COVID-19 vaccine candidates are in different stages of human clinical trials in India.
The government also approved over 2 billion U.S. dollars financial outlay to incentivize the global and domestic players to engage in high-value production of pharmaceutical drugs.
