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What is the news?
Government of India has launched several Production Linked Incentive (PLI) Schemes to boost manufacturing capacity in the pharmaceutical sector.
About PLI Scheme for Bulk Drugs
Objective: To attain self-reliance and reduce import dependence in critical Key Starting Materials (KSMs)/Drug Intermediates (DIs) and Active Pharmaceutical Ingredients (APIs) in India.
Under the Scheme, financial incentives shall be given based on threshold investment and domestic sales made by selected applicants for the eligible products.
Duration: FY 2020-21 to FY 2029-30
|What are APIs? It is any substance or mixture of substances intended to be used in the manufacture of a drug product and that, when used in the production of a drug, becomes an active ingredient of the drug product. Such substances are intended to furnish pharmacological activity or direct effect in diagnosis, cure, treatment or prevention of disease.|
About PLI Scheme for Pharmaceuticals
Aim: To enhance India’s manufacturing capabilities by increasing investment and production in the sector and contributing to product diversification to high value goods in the pharmaceutical sector.
Under the scheme, manufacturers of pharmaceutical goods registered in India will be grouped based on their Global Manufacturing Revenue (GMR) to ensure wider applicability of the scheme across the pharmaceutical industry.
Duration of the Scheme: 2020-21 to 2028-29
|Click here to read more about the scheme|
Source:This post is based on the article ‘Efforts to boost manufacturing capacity in pharmaceutical sector’ published in The Indian Express on 22nd Dec 2021.