The Ministry of Chemicals and Fertilizers said in a statement that the Department of Pharma has approved the PLI scheme for the pharma industry. Under this Rs 15,000 crore will be spent.
PLI Scheme for Pharma Industry
The government has issued operational guidelines related to the Production Linked Incentive (PLI) scheme for the pharma industry. The initiative aims to enhance India’s manufacturing capabilities by increasing investment and production in the region. The Ministry of Chemicals and Fertilizers said in a statement that the Department of Pharma has approved the PLI scheme for the pharma industry. Under this Rs 15,000 crore will be spent. It said, it is envisaged to make those units the global champions which have the potential to grow in size and scale by using state-of-the-art technology.
According to the ministry, the operational guidelines for the scheme have been prepared on the basis of extensive consultations with relevant stakeholders from the pharma industry and the government. These guidelines have been issued on Tuesday. Companies can now apply under the scheme.
Applications invited in three groups
The statement said that applications have been invited in three groups based on the global manufacturing revenue of the applicants for the financial year 2019-20. Under this scheme, a separate category has been kept for MSME.
According to the ministry, applications can be given from June 2, 2021 to July 31, 2021. That is, 60 days time has been given to apply for companies of the area.
55 companies will be selected
The products covered under the scheme include formulations, biopharmaceuticals, chemicals used as raw materials (APIs) in pharmaceuticals, key starting materials from the pharma industry, pharmaceutical intermediates, medical diagnostic equipment, etc. .
A maximum of 55 applicants will be selected under the scheme. An applicant can apply for more than one product through a single application. The products applied by the applicant can be in any of the three categories.
According to the ministry, a provision of 10 percent incentive has been made on category-1 and category-2 products and 5 percent incentive of increased sales in case of category-3 products.
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