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Mandaviya Focuses On High-end Medical Devices To Reduce Import Dependency

First release of Rs 166 crore incentives under PLI scheme for pharmaceuticals

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“Working on the vision of reducing import dependency through indigenous production, government of India is focussing on production of high value pharmaceuticals and high-end medical devices. Manufacturing of components of high-end medical devices in the country will be another big step in moving towards Aatmanirbharta,” Dr Mansukh Mandaviya said this while appreciating the efforts of the applicants selected under the scheme.

The Department of Pharmaceuticals (DoP) has released the first tranche of incentives under the Product Linked Incentive (PLI) scheme of pharmaceuticals amounting to Rs 166 crore to four selected applicants on Tuesday.

Under the Atmanirbharta initiative of the government, department of pharmaceuticals launched the PLI scheme for pharmaceuticals in 2021. The financial outlay under this PLI scheme is Rs 15,000 crore over a period of six years. So far, 55 applicants have been selected under the scheme, including 20 Micro, Small and Medium Enterprises (MSMEs). The financial year of 2022-2023 being the first year of production for the PLI Scheme, DoP has ear-marked Rs 690 crore as the budget outlay.

With an objective to enhance India’s manufacturing capabilities and contributing to product diversification towards high value goods in the pharmaceutical sector, products like bulk drugs, auto-immune drugs, orphan drugs, anti-diabetic drugs and many more are being supported under the scheme.

The incentives on incremental sales to selected participants under these categories are at varying rate over the years ranging from 10 per cent to 3 per cent (tapering at last two years of the scheme).