INSUBCONTINENT EXCLUSIVE:
The approvals were given throughout the ninth conference of the empowered committeeThe federal government has accorded approval to eight
companies under the production linked incentive (PLI) plan to promote domestic production of medical devices, the Ministry of Chemicals and
Fertilisers stated on Thursday.The approvals were provided during the ninth conference of the empowered committee hung on November 25 after
thinking about all the applications according to the plan standards, the ministry said in a statement
The establishing of these 8 plants will result in a total dedicated financial investment of Rs 260.4 crore by the business and employment
generation of about 2,599
The commercial production is projected to start from April 1, 2023, onwards, it added.With this the total applications authorized under
both rounds aggregate to 21 candidates with committed financial investment of Rs 1,059.33 crore and work generation of about 6,411, the
statement noted.The setting of these plants will make the country self-reliant to a large extent in the specified target sectors in the
medical gadgets sector, it added.With an objective to boost domestic production, attract large investment in the medical gadget sector, the
Department of Pharmaceuticals had introduced a PLI scheme to make sure a level playing field for the domestic makers of medical gadgets with
a total monetary outlay of Rs 3,420 crore for the duration 2020-21 to 2027-28
In a separate statement, the ministry said that the empowered committee also authorized numerous applicants in the bulk drugs section as
well.The establishment of eight plants would result in an overall dedicated investment of about Rs 151.12 crore by the companies and
employment generation of about 1,951, the declaration noted.The commercial production of these plants is projected to begin from April 1,
With this, the overall applications approved under both rounds aggregate to 50 candidates with committed investment of Rs 4,498.38 crore
and employment generation of about 10,743
Establishing of these plants will make the country self-reliant to a large level in respect of these Bulk drugs, the ministry
said.Currently, India is considerably based on the import of standard raw materials-- bulk drugs that are utilized to produce medicines
In some specific bulk drugs, the import reliance is 80 to 100 per cent.
