Like a seedling nurtured to become a sturdy tree, India's Production Linked Incentive (PLI) Scheme aims to transform the healthcare manufacturing landscape. With far-reaching objectives such as cultivating a self-reliant industry, fostering innovation, job creation, and export growth, it would be interesting to see whether the scheme turns out to be a game-changer for India's healthcare sector.
The Production Linked Incentive (PLI) Scheme is a strategic initiative by the Indian government to boost domestic manufacturing, enhance exports, and create employment opportunities.
The scheme is available pharmaceutical and medical for devices manufacturers in India. The domestically manufactured pharma products as well as medical devices should meet the prescribed criteria related to production, innovation, and domestic value addition. The incentives are based on incremental sales over the base year of FY 2019-20.
Inaugurated in 2021, with a financial outlay of ₹15,000 crores over six years, the PLI scheme for pharmaceutical manufacturers covers active pharmaceutical ingredients (APIs), formulations (finished dosage forms, such as tablets, capsules, and injectables), and biopharmaceuticals:
• Category 1: Encompassing biopharmaceuticals, complex generic drugs, patented drugs, cell-based or gene therapy drugs, orphan drugs, special empty capsules, and complex excipients.
• Category 2: Focused on bulk drugs, excluding those notified under the "PLI Scheme for Bulk Drugs.
• Category 3: Encompassing drugs not included in Category 1 and Category 2, such as repurposed drugs, auto-immune drugs, anti-cancer drugs, anti-diabetic drugs, antiinfective drugs, cardiovascular drugs, psychotropic drugs, anti-retroviral drugs, and in vitro diagnostic devices.
This story is from the July 2024 edition of Healthcare Radius.
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This story is from the July 2024 edition of Healthcare Radius.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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