PLI Schemes Drive Rs. 21,861 crore in investments for Pharmaceuticals and Medical Devices

Among the three schemes, the PLI scheme for pharmaceuticals has received the majority of the investments.

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PLI Scheme
PLI Scheme

Last Updated on December 31, 2023 by The Health Master

PLI Schemes for Pharmaceuticals and Medical Devices

India’s Central government reports that the three Production Linked Incentive (PLI) schemes in the pharmaceuticals and medical devices sector have attracted a remarkable investment of Rs. 21,861 crore as of March 2023.

Among the three schemes, the PLI scheme for pharmaceuticals has received the majority of the investments.

These initiatives, launched by the Government of India, aim to bolster domestic manufacturing, achieve self-reliance, and attract significant investments in the sector.

Investments in PLI Schemes:

Pharmaceuticals Scheme:

The PLI scheme for pharmaceuticals has witnessed investments totaling Rs. 18,618.09 crore until March 2023.

With a financial outlay of Rs. 15,000 crore over six years, this scheme has received substantial attention.

For the financial year 2022-23, the Department of Pharmaceuticals has allocated a budget outlay of Rs. 690 crore.

Bulk Drugs Scheme:

The PLI scheme for bulk drugs has attracted investments amounting to Rs. 2,405.09 crore. The scheme’s objective is to enhance domestic production of 41 critical bulk drugs in India.

Out of the 34 notified bulk drugs, 51 projects have been selected, with 22 projects already commissioned.

The incentive rates for fermentation-based products are 20%, while chemical-based products receive 10% for the first four years, gradually tapering over the subsequent two years.

Medical Devices Scheme:

The PLI scheme for medical devices has secured an investment of Rs. 837.23 crore.

With a financial outlay of Rs. 3,420 crore, this initiative aims to establish domestic manufacturing capabilities for high-end medical devices in four target segments:

Four target segments:

  • Cancer care/radiotherapy medical devices
  • Radiology and imaging medical devices (ionizing & non-ionizing radiation products, nuclear imaging devices)
  • Anaesthetics and cardio-respiratory medical devices, including catheters and renal care devices
  • All implants, including implantable electronic devices

Medical Devices Manufactured under PLI Scheme:

The medical devices manufactured under the PLI scheme include advanced equipment such as:

  • CT scan machines,
  • MRI Coils,
  • Linear Accelerators (LINAC),
  • C-Arms,
  • Ultrasonography devices,
  • Dialysis machines,
  • Intensive care ventilators,
  • Knee and hip implants,
  • Heart valves,
  • Stents, and
  • Dialyzers.

Remarkably, some of these high-end medical devices are being domestically manufactured for the first time in India.

The PLI scheme has successfully established an ecosystem to support the domestic manufacturing of these critical medical devices, as stated by the Ministry of Chemicals and Fertilizers.

Conclusion:

India’s PLI schemes for pharmaceuticals, bulk drugs, and medical devices have attracted significant investments, fostering self-reliance and domestic manufacturing capabilities in the sector.

These initiatives align with the government’s vision to boost the country’s healthcare industry, encourage innovation, and ensure access to high-quality medical devices and pharmaceuticals for its citizens.

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