Published on: November 27, 2021

PRODUCTION LINKED INCENTIVE (PLI) SCHEME FOR THE PHARMACEUTICAL SECTOR

PRODUCTION LINKED INCENTIVE (PLI) SCHEME FOR THE PHARMACEUTICAL SECTOR

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http://hiperduct.ac.uk/professional-expository-essay-writers-for-hire-toronto The PLI Scheme for Pharmaceuticals is based on the strategy of “Atmanirbhar Bharat- Strategies for enhancing India’s manufacturing capabilities and enhancing exports in ten sectors”, which had been approved by the Union Cabinet

ABOUT

  • Objective
    • Enhance India’s manufacturing capabilities by increasing investment and production in the sector
    • Contributing to product diversification to high value goods in the pharmaceutical sector
    • Create global champions out of India who have the potential to grow in size and scale using cutting edge technology and thereby penetrate the global value chains.
  • Provide financial incentives on the incremental sales (over Base Year) of pharmaceutical goods and in-vitro diagnostic medical devices to selected applicants based on pre-defined selection criteria
  • Incentives will be paid for a maximum period of 6 years for each participant depending upon the threshold investments and sales criteria to be achieved by the applicant.
  • SIDBI – Project Management Agency for the Scheme.
  • The scheme covers three different product categories for which applicants have applied under the scheme. These products are expected to give an impetus to innovation, R&D and widening of product profile of India Pharmaceutical industry.
    • Category 1: Biopharmaceuticals; Complex generic drugs; Patented drugs or drugs nearing patent expiry; Cell based or gene therapy drugs; Orphan drugs; Special empty capsules like HPMC, Pullulan, enteric etc.; Complex excipients; Phyto-pharmaceuticals.
    • Category 2: Active Pharmaceutical Ingredients / Key Starting materials / Drug Intermediates (except the Active Pharmaceutical Ingredients / Key Starting materials / Drug Intermediates covered under the earlier PLI scheme for APIs/KSMs and DIs being implemented by the Department)
    • Category 3 (Drugs not covered under Category 1 and Category 2): Repurposed drugs; Auto immune drugs, anti-cancer drugs, anti-diabetic drugs, anti-infective drugs, cardiovascular drugs, psychotropic drugs and anti-retroviral drugs; In vitro diagnostic devices; Other drugs not manufactured in India.
  • The selection of applicants in each of the three categories has been approved by the Hon’ble Minister for Chemicals and Fertilizers.
  • A Technical Committee comprising of experts is assisting the Department with respect to the technical aspects of the scheme.
  • SIDBI has put in place a digital mechanism for business processes being followed under the scheme.
  • A robust monitoring framework will also be put in place to track the progress of the scheme.