Last Updated on October 6, 2024 by The Health Master
New Delhi : In an effort to reduce the dependence on imports of active pharmaceutical ingredients (APIs), the Central Government has approved a Production Linked Incentive (PLI) scheme to promote domestic manufacturing of critical key starting materials (KSMs), drug intermediates (DIs) and APIs in India.
In a written reply, Health Minister Mansukh Mandaviya informed Rajya Sabha that the total outlay of the scheme as decided by the government is Rs. 6,940 crore.
The scheme will provide financial incentives for selected participants on incremental sales of 41 identified products in four different target segments for a period of six years.
Government had also approved the PLI scheme for pharmaceuticals earlier in March to enhance India’s manufacturing capabilities by increasing investment and production in the sector.
The scheme also aims to contribute to product diversification and manufacturing high value goods in the pharmaceutical sector.
The total outlay of the scheme is Rs. 15,000 crore with financial incentives for selected participants on incremental sales for a period of six years.
He further highlighted that 50 applicants have been approved under the PLI Scheme for Bulk Drugs while 55 applications have been approved for PLI Scheme for pharmaceuticals.
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