Industry

Govt plans PLI scheme for basic chemicals used in Pharma and Medical Device Industry

The minister called on the industry to cooperate with the government's efforts to ensure quality in the pharma and medical devices sector.

The Health Master

May 26, 2023

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Last Updated on October 6, 2024 by The Health Master

PLI scheme

New Delhi: Mansukh Mandaviya, the Minister of Chemicals and Fertilisers, urged the pharma-medical devices industry to prioritize the production of high-quality products at affordable rates in order to compete globally.

He also announced plans to introduce a Product Linked Incentive (PLI) scheme for basic chemicals.

Emphasizing the Government’s pro-poor, pro-farmer, and industry-friendly stance, the minister stated that all policies are being developed after extensive consultations with the industry and other stakeholders.

Maintaining India’s Leadership Position

Mandaviya highlighted India’s role as the “pharmacy of the world” and emphasized the industry’s need to focus on research, innovation, and stay informed about global developments to maintain its leadership position.

He stressed that the industry must be prepared to face global competition and stressed the importance of affordability and quality in manufacturing to succeed in this competition.

Ensuring Quality and Cooperation

The minister called on the industry to cooperate with the government’s efforts to ensure quality in the pharma and medical devices sector.

He emphasized that any compromise on quality would prove detrimental in global competition and expressed his desire to avoid stringent actions against the industry.

PLI Scheme for Basic Chemicals

Mandaviya highlighted the government’s existing PLI schemes, PLI-I and PLI-II, aimed at boosting domestic production and exports in the pharma and medical devices sector.

Based on industry feedback, he announced the upcoming PLI scheme for basic chemicals.

This scheme aims to support the production of essential chemicals required in agrochemicals, petrochemicals, and pharmaceutical API industries, promoting affordability and self-reliance.

Focus on Research & Development

The minister stressed the importance of research and development in the sector and encouraged MSMEs operating in the field to utilize government facilities that have been made accessible to all.

Launch of Policies and Initiatives

During the conference, Minister Mandaviya released the National Medical Devices Policy 2023 and the corresponding strategy document.

He also inaugurated the Medical Devices Export Promotion Council and launched the ‘Assistance to Medical Device Clusters for Common Facilities (AMD-CF)’ scheme.

Conclusion:

The Minister of Chemicals and Fertilisers called for the pharma-medical devices industry to prioritize quality manufacturing at affordable rates to compete globally.

He announced plans for a new PLI scheme for basic chemicals and emphasized the importance of research and development in the sector.

The government aims to promote self-reliance and boost domestic production through these initiatives while maintaining the industry’s global reputation for quality.

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