What is production linked incentive scheme for pharma?

The Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/Drug Intermediates (DIs) and Active Pharmaceutical Ingredients (APIs) in India. Production Linked Incentives of upto INR 6,940 crores have been approved.

What are production linked incentives?

The scheme shall extend an incentive of 4\% to 6\% on incremental sales (over base year) of goods manufactured in India and covered under target segments, to eligible companies, for a period of five (5) years subsequent to the base year as defined.

What is PLI scheme in medical devices?

The government has accorded approval to eight companies under the production linked incentive (PLI) scheme to promote domestic manufacturing of medical devices. 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, it added.

What are drug intermediates?

Drug intermediates are the drugs used as raw materials for the production of bulk drugs, or they can refer to a material produced during synthesis of an API that must undergo further molecular change or processing before it becomes an API.

What are critical key starting materials?

With an objective to attain self-reliance and reduce import dependence in these critical Bulk Drugs – Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in the country, the Department of Pharmaceuticals had launched a Production Linked Incentive (PLI) Scheme for promotion of …

When was production linked incentive scheme launched?

In order to boost domestic manufacturing and cut down on import bills, the union government in March 2020 introduced a PLI scheme that aims to give companies incentives on incremental sales from products manufactured in domestic units.

How many sectors are in production Linkedincentive scheme?

Related services As of writing this article, the PLI schemes cover 13 sectors like pharmaceuticals, mobile phones, specialty steel, auto components, technical textiles, etc., with a total budgeted outlay of INR 1970 billion (US$26.48 billion).

Which pharma companies applied for PLI scheme?

Reddy’s Laoratories Ltd, Lupin Ltd, Mylan Laboratories Ltd, Cadila Healthcare Ltd, Cipla Ltd, Amneal Pharmaceuticals Pvt Ltd, Glenmark Pharmaceuticals Ltd, Neogen Chemicals Ltd, Biological E Ltd, Natco Pharma Ltd, Strides Pharma and Aarti Industries are some of the pharma companies to be selected as beneficiaries of …

Which companies applied for PLI scheme?

The eligible global companies (their Indian subsidiaries) under non-MSME who were selected for the PLI scheme include Commscope India, Flextronics Technologies (India), Foxconn Technology (India), Jabil Circuit India, Nokia Solutions and Networks India, Rising Stars Hi-Tech, and Sanmina-SCI India.

What are the 13 sectors in PLI scheme?

As of writing this article, the PLI schemes cover 13 sectors like pharmaceuticals, mobile phones, specialty steel, auto components, technical textiles, etc., with a total budgeted outlay of INR 1970 billion (US$26.48 billion).

When was production linked incentive scheme introduced?

In November 2020, the Government of India announced the second edition of production-linked incentives (PLI) schemes across 10 key sectors. The PLI schemes were launched with the intention of scaling up domestic manufacturing facilities, accompanied by higher import substitution and employment generation.