With a view to attain self-reliance and reduce import dependence in critical APIs, the Centre has approved “Production Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/Drug Intermediates (DIs) and Active Pharmaceutical Ingredients (APIs) In India.” The total outlay of the scheme is Rs 6,940 crores and financial incentive under the scheme is provided to the selected participants on incremental sales of 41 identified products in four different Target Segments for a period of six years, Dr Mansukh Mandaviya, Union Minister, Ministry of Health and Family Welfare (MoH&FW), informed Rajya Sabha yesterday.
He further said that another scheme called “Production Linked Incentive Scheme for Pharmaceuticals” was approved by the Government of India in March 2021 to enhance India’s manufacturing capabilities by increasing investment and production in the sector and contributing to product diversification to high-value goods in the pharmaceutical sector. The total outlay of the scheme is Rs 15,000 crores and the financial incentive is provided to the selected participants on incremental sales for a period of six years.
“Under the PLI Scheme for Bulk Drugs, 50 applicants have been approved. Whereas, under the PLI Scheme for Pharmaceuticals, 55 applicants have been approved, he added.