Medical Device | December 10, 2021
Indian government approves eight firms for PLI scheme
The setting up of these 8 plants will lead to a total committed investment of Rs. 260.40 crore
The setting up of these 8 plants will lead to a total committed investment of Rs. 260.40 crore
Approvals accorded under Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/ drug intermediates and Active Pharmaceutical Ingredients (APIs
FDI increased 98% year on year in 2020 and pharma exports grew by 18% in the last financial year
The scheme incentivizes the manufacturing of patented drugs and other high value drugs at an incentive rate of 10% of incremental sales
174 applications were received for 23 eligible products under Target Segment IV - Other Chemical Synthesis Based KSMs/ Drug Intermediates/APIs.
Total incremental sales of Rs.2,94,000 crore and total incremental exports of Rs.1,96,000 crore are estimated during six years from 2022-23 to 2027-28.
The Govt. launched the PLI scheme for bulk drugs with a financial outlay of Rs 6,940 crores across 53 APIs over 6 years.
The medical device Sector in India suffers from a considerable cost of manufacturing disability.
Post approval under the PLI scheme, Aurobindo will become a very large player in anti-biotic space.
We now rank 3rd in pharmaceutical production by volume and 14th by value
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