PGIM India Mutual Fund has contributed Rs.20 lakh i.e. 10% of the total manufacturing cost of indigenous ventilators that will be installed in hospitals of rural areas across Kerala. The fund house and its employees have jointly made this contribution to support the Kerala Government’s fight against the novel coronavirus.
The project aims to design, develop and manufacture 5000 indigenous mechanical ventilators in the next couple of weeks and install them in designated hospitals in rural areas.
In a press release, Ajit Menon, CEO of PGIM India said, “India needs to ramp up its healthcare capacities and sufficient availability of ventilators will be a critical last line of defense and a lifesaving need in the fight against COVID-19. This Kerala Startup Mission’s initiative to produce low-cost indigenous ventilators interested us for its potential to not only augment the supply of ventilators in our country but also the collaborative, open source way it is being done. We hope our humble support to this critical, best-practice initiative will not only fill a current need but accelerate India’s journey to healthcare preparedness.”
