PLI scheme for MedTech sector: Govt approves 21 applications, commits investment of Rs 1,059.33 crore

In the first round of Production Linked Incentive (PLI) Scheme, 28 applications were received from 23 applicants under the Scheme. Out of which, 13 applications with committed investment of Rs.798.93 crore

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New Delhi: With an objective to boost domestic manufacturing, attract large investment in the Medical Device Sector, the Department of Pharmaceuticals had launched a Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of Medical Devices to ensure a level playing field for the domestic manufacturers of medical devices with a total financial outlay of Rs.3,420 cr. for the period 2020-21 to 2027-28.
In the first round, 28 applications were received from 23 applicants under the Scheme. Out of which, 13 applications with committed investment of Rs.798.93 crore by the Companies were approved with expected employment generation of around 3,812 persons.
Since few slots remained unfilled for certain products, applications were invited again with the last date of submission as 31.08.2021. Total 14 applications were received.
In the 9th Meeting of the Empowered Committee held on 25.11.2021, after considering all the applications as per the scheme guidelines, applications of the following applicants have been approved:
S. No.
Name of the Applicant
Name of the Eligible Product
Committed
Investment
(in Rs. crores)
Target Segment 2 – Radiology & Imaging medical devices (both Ionizing & Non-Ionizing Radiation products) and Nuclear Imaging Devices
1
M/s. Philips Global Business Services LLP
MRI Coils
103.46
Target Segment 3 – Anaesthetics& Cardio-Respiratory Medical Devices including Catheters of Cardio Respiratory Category & Renal Care Medical Devices
1
M/s Allied Medical Limited
Anesthesia workstation, Anesthesia Unit Gas Scavengers, Anesthesia Kits, Masks —Anesthesia, Anesthesia Unit Vaporizers, Anesthesia Unit Ventilators, Automated external defibrillators (AEDs), Oxygen concentrator and other products Bi- Phasic Defibrillators, Infusion pumps – Syringe and Volumetric, Intensive Care Ventilators, Emergency Ventilators, High Flow Oxygen Devices, Multi-parameter Monitor and Suction Machine
22.89
2
M/s. Deck Mount Electronics Limited
Anesthesia Unit Ventilators, Dialyzer and Oxygen Concentrators
10.00
3
M/s Microtek New Technologies Private Limited
Oxygen Concentrators
4.50
Target Segment 4 – AII Implants including Implantable Electronic Devices
1
M/s Meril Healthcare Private Limited
Hip Implants, Knee Implants and other Product Trauma Implant
30.03
2
M/s Meril Life Sciences Private Limited
Heart Valves, Stents and ‘PTCA Balloon Catheter
35.06
3
M/s Envision Scientific Private Limited
Stents’, and ‘PTCA Balloon Catheter’
48.73
4
M/s. Bio India Interventional Technologies Private Limited
Drug Eluting Stents, and Drug Eluting Balloon
5.37
The setting up of these 8 plants will lead to a total committed investment of Rs. 260.40 crore by the companies and employment generation of about 2,599. The commercial production is projected to commence from 1st April, 2023 onwards.
With this the total applications approved under both rounds aggregate to 21 applicants with committed investment of Rs 1,059.33 crore and employment generation of about 6,411. The setting of these plants will make the country self-reliant to a large extent in the specified target segments in the Medical Devices Sector.