India should explore Sustainability-Linked Incentives (SLI) targeting innovations in the 12 principles of green chemistry
Government policies and competitive industry driving India’s MedTech sector for sustained double-digit growth
The PLI scheme focuses on incentivizing a strategic shift towards high-value, innovative products such as biologics, complex generics, and specialty formulations
The scheme aims to avoid disruption in supply of critical active pharmaceutical ingredients (APIs) used to make critical drugs
Through strong industry cooperation, significant investment, and smart policy backing, API manufacturing may become self-reliant
The project is set to attract significant manufacturing investments of approximately Rs. 10,500 crore and is also projected to create around 1 lakh direct and indirect jobs
Capital expenditure expected to moderate to Rs. 5.6 billion in FY2025 from an estimated Rs. 7.6 billion in FY2024
Against targeted investment of Rs. 3,938 crore, investments worth Rs. 4,024 crores have been made under scheme
The company has now received 100% of the incentive owed to the company for the financial year 2022-23 under the PLI scheme
The disbursement will bolster the company's manufactun'ng capabjljties and foster product diversification, including complex generics
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