Govt extends application date till March-end under PLI scheme for bulk drugs
- The department of pharmaceuticals is implementing three different schemes related to PLI to increase the domestic manufacturing of bulk drugs, medical devices and pharmaceuticals, respectively
The Central government has extended the date of receipt of applications till end of March for the vacant slots under Production-Linked Incentive (PLI) Scheme to promote domestic manufacturing of bulk drugs, stated a release issued by the Department of Pharmaceuticals on Monday.
The department of pharmaceuticals is implementing three different schemes related to PLI to increase the domestic manufacturing of Bulk Drugs, Medical Devices and pharmaceuticals respectively and to create global champions in the field of Pharmaceuticals and Medical Devices (IVDs).
The government said that under two rounds of inviting applications, a total 49 projects have been approved for 33 critical APIs with a committed investment of ₹ 3,685 crore.
Earlier on 27th January, the government invited applications for vacant slots (10 APIs) under PLI scheme for bulk drug. Based on the representation received from the industries/associations, the department has decided to extend the timeline to fill the applications till 31 March 2022.
The government will commission green field plants with minimum domestic value addition of 90 percent in four different target segments namely-- two fermentation and two chemical syntheses based respectively with a total outlay of Rs. 6,940 Crore for the period 2020-21 to 2028-29.
In 2020, the government had approved PLI scheme for bulk drugs, a flagship scheme that aims to attain self-reliance and reduce import dependence of critical key starting materials (KSMs)/ drug intermediates and active pharmaceutical ingredients.
Recently, the Union Minister of Chemical & Fertilizers Dr Mansukh Madaviya encouraged the industry to invest in the area of research and innovation for sustainable global competitiveness by allocating adequate resources.
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Business NewsIndustryManufacturingGovt extends application date till March-end under PLI scheme for bulk drugs
First Published:14 Mar 2022, 09:47 PM IST
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