Insta
PLI Scheme For Boosting Domestic Manufacturing Of Bulk Drugs And Medical Devices Receives Hundreds Of Applications
Prime Minister Narendra Modi with Finance Minister Nirmala Sitharaman.
Following the highly successful production linked incentives (PLI) scheme of the Government for electronic manufacturing, the recently unveiled PLI scheme for boosting the domestic manufacturing of bulk drugs and medical devices has also received am encouraging response, reports Economic Times.
The PLI scheme for bulk drugs has received whopping 247 registrations across four categories, of which a maximum of 136 will be finally selected as beneficiaries under the scheme. Similarly, the PLI scheme for manufacturing of medical devices has received 29 registrations across all for target segments. Of these, a maximum of 28 participants will be chosen.
The last date for filing in the application under the PLI schemes for both bulk drugs and medical devices is 30 November, following which the further procedures for the selection of companies would begin.
The PLI schemes for the aforementioned sectors were approved by the Government on 3 March earlier this year, and revised guidelines for both of them were issued on 29 October.
In a moved aimed at promoting domestic manufacturing of active pharmaceutical ingredients (API) and reduce dependence on imports, the NDA government notified a Rs 6,940-crore production linked incentive scheme to boost domestic drug manufacturing.
Under the PLI Scheme for promoting domestic manufacturing of medical devices. , financial incentive shall be given to selected companies at the rate of 5% of incremental sales (over Base Year) of goods manufactured in India and covered under Target segments, for a period of five (5) years i.e. from FY 2021-22 to FY 2025-26.
Support under the scheme shall be provided for a period of five (5) years i.e. from FY 2021-22 to FY 2025-26.
The manufacturers of following medical devices are eligible under the Scheme
- Cancer care/Radiotherapy medical devices
- Radiology & Imaging medical devices (both ionizing & non-ionizing radiation products) and Nuclear Imaging Devices
- Anaesthetics & Cardio-Respiratory medical devices including Catheters of Cardio Respiratory Category & Renal Care Medical Devices
- All Implants including implantable electronic devices like Cochlear Implants and Pacemakers
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
