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National News

Oct 29, 2020
2:53PM

Govt revises PLI Schemes for promoting domestic manufacturing of bulk drugs & medical devices

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Chemicals and Fertilizers Ministry has revised the Production Linked Incentive Schemes for promoting domestic manufacturing of bulk drugs and medical devices. In the revised guidelines, the minimum threshold investment requirement has been replaced by committed investment taking into account availability of technology choices which varies from product to product. The change has been made to encourage efficient use of productive capital.
 
The Department of Pharmaceuticals earlier come out with the two Production Linked Incentive schemes-Production Linked Incentive scheme for promotion of domestic manufacturing of critical Key Starting Materials, Drug Intermediates and Active Pharmaceutical Ingredients in India and Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices. After approval of Cabinet, detailed guidelines for the implementation of the schemes were issued by the Department of Pharmaceuticals in July this year.
 
Globally, the Indian pharmaceutical industry is the third largest in terms of volume and contributes significantly to India’s economic growth and export earnings. 

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