Govt’s PLI schemes receive 215 applications for bulk drugs & 28 for medical devices

The scheme that closed on 30th November 2020 has received a very positive response from the pharmaceutical and medical device industry

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New Delhi: Production Linked Incentive(PLI) Scheme for Bulk Drugs and PLI Scheme for Medical Devices have shown a very positive response from the pharmaceutical as well as the medical device industry. 215 applications have been made by 83 pharmaceutical manufacturers have been received under the PLI Scheme for bulk drugs. Similarly, 28 applications made by 23 medical device manufacturers have been received under the PLI Scheme for medical devices. The closing date of applications was 30th November, 2020. IFCI Ltd. is the Project Management Agency (PMA) for implementation of both the schemes.
The appraisal process of the applications will commence from 1st December,2020 onwards and a maximum of 136 applications under the PLI scheme for bulk drugs and a maximum of 28 applications under the PLI scheme for medical devices will be approved. The time duration for giving approval to the applicants is 90 days under the PLI scheme for bulk drugs and 60 days under the PLI scheme for medical devices. However, best efforts will be done by the PMA and the Department of Pharmaceuticals to give early approvals to the participants under the scheme.
Looking at the increasing imperative of drug security, support to domestic production capability in bulk drugs would ensure higher resilience of the Indian pharmaceutical industry to external shocks. The PLI scheme for medical devices will help meet the objective of product diversification and production of innovative and high value medical devices in India. These initiatives have the potential to contribute significantly to achieving higher objective of affordable healthcare in the country and globally on a sustained basis.
The PLI Schemes for Bulk Drugs and for Medical Devices was approved by the Government on 20th March, 2020. The initial guidelines for implementation of both the schemes which were initially issued on 27th July, 2020 were amended based on the feedback received from the industry. These revised guidelines were issued on 29th October, 2020.