PLI Schemes For Bulk Drugs, Medical Devices: 16 Firms Get Approval In Second Round

India has identified a total of eight makers each of medical devices and bulk drugs for production-linked incentives as part of its efforts to boost local manufacturing.The companies were identified from a total of 38 applicants—14 by medical devices firms and 24 from manufacturers of key starting materials or active pharmaceutical ingredients—according to a statement dated Dec. 9 by the Ministry of Chemicals and Fertilisers.Here’s a closer look at both the categories.Medical Device MakersEight applicants were approved during the ninth meeting by an empowered committee on Nov. 25, the ministry said.The companies approved are:One company under target segment-II, which caters to radiology and imaging medical devicesThree companies under target segment-III for anaesthetics and cardio-respiratory medical devicesFour companies under segment-IV for manufacturing all implants.Setting up of plants by these companies would lead to investments worth Rs 260.4 crore, according to the statement.Earlier in February, 13 companies received approval under four target segments. Following these two rounds, this brings investment commitments worth Rs 1,059.3 crore and is expected to generate 6,411 jobs.The government has planned a total outlay of Rs 3,420 crore for the six years through 2027-28 under the scheme.Bulk Drug MakersThe companies approved by the empowered committee are:One company under target segment III, which caters to manufacturing key chemical synthesis-based key APIs.Seven were approved under target segment IV, which is for other chemical synthesis based KSMs/APIs.Setting up of plants by these companies would lead to investment commitments worth Rs 151.1 crore and generate 1,951 jobs, according to the statement.After two rounds, a total of 50 applicants under four segments have got approval with committed investment of Rs 4,498.4 crore, which can lead to creation of 10,743 jobs, the ministry said.“Setting up of these plants will make the country self-reliant to a large extent in respect of these Bulk drugs,” the ministry said.The scheme aims to attain self-reliance and reduce import dependence for certain critical bulk drugs, which are the basic raw material to the country's pharmaceutical industry—which ranks third by sales volume globally.The scheme will promote domestic manufacturing by setting up greenfield plants with minimum domestic value addition in these four segments for 41 products with a total outlay of Rs 6,940 crore between 2020-21 and 2029-30.

PLI Schemes For Bulk Drugs, Medical Devices: 16 Firms Get Approval In Second Round

India has identified a total of eight makers each of medical devices and bulk drugs for production-linked incentives.

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PLI Schemes For Bulk Drugs, Medical Devices: 16 Firms Get Approval In Second Round

India has identified a total of eight makers each of medical devices and bulk drugs for production-linked incentives.

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