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New Delhi: In a significant move to enhance the domestic pharmaceutical sector, the Union government has approved a Production Linked Incentive (PLI) scheme with a financial outlay of ₹15,000 crore. This initiative aims to reduce import dependence, boost domestic manufacturing, and attract substantial investments in the pharmaceutical industry.
Minister of State for Chemicals and Fertilizers, Anupriya Patel, announced that the scheme will provide financial incentives for the manufacturing of critical Key Starting Materials (KSMs), Drug Intermediates (DIs), and Active Pharmaceutical Ingredients (APIs). The scheme, which spans from FY 2022-23 to FY 2027-28, is expected to significantly bolster the production of high-value pharmaceutical products, including patented and off-patented drugs, biopharmaceuticals, complex generics, anti-cancer drugs, and more12.
Additionally, the PLI scheme includes a dedicated financial outlay of ₹6,940 crore specifically for the promotion of bulk drugs. This segment of the scheme will support the manufacturing of essential raw materials and intermediates, further strengthening the supply chain and reducing reliance on imports12.
Patel highlighted that the scheme has already attracted considerable investment, with a total of ₹33,534 crore realized as of October 2024, surpassing the initial projected investment of ₹17,275 crore. The government has also released an incentive amount of ₹3,215 crore to 45 companies under this scheme12.
The PLI scheme is part of the government’s broader strategy to make India a global manufacturing hub for pharmaceuticals, ensuring the availability of high-quality medicines at competitive prices and enhancing the country’s self-reliance in the healthcare sector.
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