Siemens, Wipro GE, Sahajanand, Nipro Among Firms Selected Under Rs. 3420 cr PLI Scheme For Domestic Manufacturing Of Medical Devices

Siemens Healthcare, Sahajanand Medical Technologies, Nipro India Corporation and Wipro GE Healthcare are among the companies selected under the Production Linked Incentive (PLI) scheme for the promotion of domestic manufacturing of medical devices.

In a bid to boost domestic manufacturing and attract large investment in domestic manufacturing of medical Device Sector, the Department of Pharmaceuticals had launched a Production Linked Incentive (PLI) Scheme with a total financial outlay of Rs.3,420 cr. for the period 2020-21 to 2027-28.

The manufacturers of following medical devices were eligible under the PLI Scheme that was unveiled by the government last year

1. Cancer care/Radiotherapy medical devices
2. Radiology & Imaging medical devices (both ionizing & non-ionizing radiation products) and Nuclear Imaging Devices
3. Anaesthetics & Cardio-Respiratory medical devices including Catheters of Cardio Respiratory Category & Renal Care Medical Devices
4. All Implants including implantable electronic devices like Cochlear Implants and Pacemakers.

The Government has approved applications of Siemens Healthcare, Allengers Medical Systems, Allengers OEM, Wipro GE Healthcare, Nipro India Corporation, Sahajanand Medical Technologies, Innvolution Healthcare and Integris Health.

The Department of Pharmaceuticals said that the setting up of these plants will lead to a total committed investment of Rs. 729.63 crore by the companies and commercial production is projected to commence from 1st April, 2022 .

The disbursal of production linked incentive by the Government over the five years period would be up to a maximum of Rs.121.00 crore per applicant per target segment.

The remaining pending applications are proposed to be taken up for approval by end of February, 2021.