November 05, 2024 18:13 (IST)
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'Believe Rs 3,000 cr govt aid will reach us soon, didn't wait but borrowed': SII CEO Adar Poonawalla

'Believe Rs 3,000 cr govt aid will reach us soon, didn't wait but borrowed': SII CEO Adar Poonawalla

Mumbai/IBNS: Serum Institute of India (SII) has borrowed money from banks to ramp up the production of Covishield instead of waiting for the government's aid of Rs 3,000 crore to arrive.

Serum Institute seeks financial assistance from govt to boost capacity

Serum Institute seeks financial assistance from govt to boost capacity

New Delhi/IBNS: Adar Poonawalla, the CEO of world's largest vaccine manufacturer Serum Institute of India (SII), has told NDTV it needs Rs 3,000 crore in assistance from the Indian government to expand its production capacity which is currently "very stretched" in wake of the export restrictions imposed by the government last month.