Pharma and medical device industry shown positive response for PLI: Govt

Production Linked Incentive (PLI) schemes for bulk drugs and medical devices have shown a very positive response from the pharmaceutical as well as the medical device industry. According to the official information, 215 applications made by 83 pharmaceutical manufacturers have been received under the PLI Scheme for bulk drugs. Similarly, 28 applications made by 23 medical device manufacturers have been received under the PLI Scheme for medical devices. The closing date of applications was 30th November.

“Looking at the increasing imperative of drug security, support to domestic production capability in bulk drugs would ensure higher resilience of the Indian pharmaceutical industry to external shocks. The PLI scheme for medical devices will help meet the objective of product diversification and production of innovative and high value medical devices in India. These initiatives have the potential to contribute significantly to achieving higher objective of affordable healthcare in the country and globally on a sustained basis,” the statement adds.

Production-linked incentive schemes for bulk drugs and for medical devices were approved by the government on March 3 and the revised guidelines for implementation of both the schemes were issued on October 29.