Last Updated on June 20, 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:
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:
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),
- Ultrasonography devices,
- Dialysis machines,
- Intensive care ventilators,
- Knee and hip implants,
- Heart valves,
- Stents, and
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.
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.
For informative videos by The Health Master, click on the below YouTube icon:
For informative videos on Medical Store / Pharmacy, click on the below YouTube icon:
For informative videos on the news regarding Pharma / Medical Devices / Cosmetics / Homoeopathy etc., click on the below YouTube icon:
For informative videos on consumer awareness, click on the below YouTube icon: