Scheme to enhance India’s Pharma manufacturing capabilities
Fifty-five manufacturers have been selected for the PLI Scheme for Pharmaceuticals for enhancing India’s manufacturing capabilities and enhancing exports in 10 sectors approved by the Union Cabinet in Feb 2021.
The Group A consists of 11 selected applicants, Group-B consists of 9 selected applicants and Group-C consists of 35 selected applicants of which there are 20 MSMEs, the Ministry of Chemicals and Fertilizers on 26 Nov 2021.
Category 1: Biopharmaceuticals; Complex generic drugs; Patented drugs or drugs nearing patent expiry; Cell based or gene therapy drugs; Orphan drugs; Special empty capsules like HPMC, Pullulan, enteric etc.; Complex excipients; Phyto-pharmaceuticals.
Category 2: Active Pharmaceutical Ingredients / Key Starting materials / Drug Intermediates (except the Active Pharmaceutical Ingredients / Key Starting materials / Drug Intermediates covered under the earlier PLI scheme for APIs/KSMs and DIs being implemented by the Department)
Category 3 (Drugs not covered under Category 1 and Category 2): Repurposed drugs; Auto immune drugs, anti-cancer drugs, anti-diabetic drugs, anti-infective drugs, cardiovascular drugs, psychotropic drugs and anti-retroviral drugs; In vitro diagnostic devices; Other drugs not manufactured in India.
The objective of the scheme is 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. One of the further objectives of the scheme is to create global champions out of India who have the potential to grow in size and scale using cutting edge technology and thereby penetrate the global value chains.
The scheme will provide financial incentives on the incremental sales (over Base Year) of pharmaceutical goods and in-vitro diagnostic medical devices to selected applicants based on pre-defined selection criteria.
The incentives will be paid for a maximum period of 6 years for each participant depending upon the threshold investments and sales criteria to be achieved by the applicant.
The total quantum of the incentive for the scheme is Rs.15,000 crore.
SIDBI is the Project Management Agency for the Scheme.
The scheme received 278 applications at the closing date of 31 Aug 2021. #investment #manufacturing #health /fiinews.com
