New Delhi, June 24 -- The Department of Pharmaceuticals has launched an online portal for a Rs.5,000-crore scheme it says will innovation in pharma and medical technology.

PRIP, or the Promotion of Research and Innovation in Pharma MedTech Sector, promises to make it easier to submit applications to develop novel technologies in medicine, including medical devices and drugs for communicable, non-communicable diseases and rare disease.

The government is concerned about the tiny levels of domestic R&D spending, compared with many other nations, despite India being a global leader in generic drug production.

While the US and China spend $60 billion and $20 billion on pharmaceutical R&D respectively, India's expenditure is only around $3 b...