Union Chemicals and Fertilizers Minister launched schemes of Department of Pharmaceuticals for promotion of domestic manufacturing of bulk drugs and medical devices in the country.
About:
The Production Linked Incentive (PLI) schemes for promoting domestic manufacturing of KSMs, DIs and APIs and medical devices will go a long way including to boost domestic manufacturing of 53 bulk drugs, on which India is critically dependent on imports.
The Scheme for promotion of Bulk Drug Parks envisages creation of 3 bulk drug parks in the country. The grant-in-aid will be 90% of the project cost in case of North-East and hilly States and 70% in case of other States. Maximum grant-in-aid for one bulk drug park is Rs.1000 crore.
Production Linked Incentive (PLI) scheme for promoting domestic manufacturing of Medical Devices intends to boost domestic manufacturing of medical devices in four target segments by giving financial incentives on sales to a maximum number of 28 selected applicants for a period of 5 years.
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