PLI schemes for bulk drugs, medical devices received positive response from industry: Govt
The PLI scheme for medical devices will help meet the objective of product diversification and production of innovative and high-value medical devices in India.
By Press Trust of India | Posted by Deepali Sharma | New Delhi
PUBLISHED ON DEC 01, 2020 06:06 PM IST
Production-linked incentive (PLI) schemes for bulk drugs and medical devices have received a positive response from the industry, the Ministry of Chemicals and Fertilizers said on Tuesday.
For the PLI scheme for bulk drugs, 215 applications have been received from 83 pharmaceutical manufacturers, the ministry said in a statement.
The PLI scheme for medical devices attracted 28 applications from 23 medical device manufacturers, it added.
“The appraisal process of the applications will commence from today onwards and a maximum of 136 applications under the PLI scheme for bulk drugs and a maximum of 28 applications under the PLI scheme for medical devices will be approved,” the statement said.
Also Read | PLI scheme powers up lithium-ion cell making
Looking at the increasing imperative of drug security, support to domestic production capability in bulk drugs would ensure higher resilience for the Indian pharmaceutical industry to external shocks, it added.
The PLI scheme for medical devices will help meet the objective of product diversification and production of innovative and high-value medical devices in India, the statement said.
Production-linked incentive schemes for bulk drugs and for medical devices were approved by the government on March 3, and the revised guidelines for implementation of both the schemes were issued on October 29.
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