Investment under the production-linked incentive (PLI) scheme for bulk drugs reached ₹5211 crore by June, exceeding the government’s committed investment target of ₹4,330 crore, according to Informist, citing a Ministry of Chemicals and Fertilizers release.
The government launched the bulk drug PLI scheme in 2020 with a financial outlay of ₹6,940 crore to boost domestic manufacturing of 41 critical pharmaceutical products and reduce India’s dependence on imports of active pharmaceutical ingredients (APIs) and other key drug-making materials.
A total of 48 projects have been approved under the scheme. Of these, 39 projects covering 28 APIs and key starting materials had started production by June, the ministry said.Companies benefiting from the scheme had recorded sales of ₹3,793 crore by June, including exports of ₹560 crore. The projects had also generated around 5,127 jobs.
The scheme has helped establish domestic production of critical fermentation-based products such as Penicillin-G, Clavulanic Acid and Rifampicin, which India had previously depended heavily on imports for.
Pharma PLI draws ₹46,744 crore investment
The broader PLI scheme for pharmaceuticals has also attracted investment well above the government’s target.
Actual investment under the scheme stood at ₹46,744 crore by June, compared with a targeted investment of ₹17,275 crore, according to the department.
The pharmaceutical PLI scheme has 55 selected applicants, including 20 micro, small and medium enterprises. It had generated 1,21,294 jobs by June.
Companies participating in the scheme recorded cumulative sales of ₹4.03 lakh crore, including exports of ₹2.57 lakh crore, from the start of the performance period in FY23 through June.The ministry said companies including Sun Pharmaceutical Industries, Aurobindo Pharma, Dr Reddy’s Laboratories, Lupin, Cipla, Intas Pharmaceuticals and Torrent Pharmaceuticals have expanded manufacturing capacity for complex generics, biosimilars, autoimmune medicines and other high-value drugs.
Medical device production expands
The PLI scheme for medical devices has also resulted in domestic production of 57 types of medical devices, according to the department.
These include magnetic resonance imaging (MRI) machines, computed tomography (CT) scanners, catheterisation laboratory equipment, linear accelerators, C-arms, mammography machines, ultrasound systems, anaesthesia machines and heart valves.Companies benefiting from the scheme had recorded sales of ₹3,793 crore by June, including exports of ₹560 crore. The projects had also generated around 5,127 jobs.
The scheme has helped establish domestic production of critical fermentation-based products such as Penicillin-G, Clavulanic Acid and Rifampicin, which India had previously depended heavily on imports for.
Pharma PLI draws ₹46,744 crore investment
The broader PLI scheme for pharmaceuticals has also attracted investment well above the government’s target.
Actual investment under the scheme stood at ₹46,744 crore by June, compared with a targeted investment of ₹17,275 crore, according to the department.
