General
Govt. receives 215 pharma applications under PLI Scheme
The time duration for giving approval to the applicants is 90 days under the PLI scheme for bulk drugs and 60 days under the PLI scheme for medical devices
- By ICN Bureau
| December 02, 2020
The Production Linked Incentive (PLI) Scheme has received a positive response with 215 applications from 83 pharmaceutical manufacturers in the country.
Similarly, the government has received 28 applications from 23 medical device manufacturers under the PLI Scheme for medical device manufacturers on the closing date. IFCI Limited is the Project Management Agency (PMA) for implementation of both the schemes.
The appraisal process of the applications has commenced from today onwards and a maximum of 136 applications under the PLI scheme for bulk drugs and a maximum of 28 applications under the PLI scheme for medical devices will be approved. The time duration for giving approval to the applicants is 90 days under the PLI scheme for bulk drugs and 60 days under the PLI scheme for medical devices.
The PLI scheme for medical devices will help meet the objective of product diversification and production of innovative and high value medical devices in India. These initiatives have the potential to contribute significantly to achieving higher objectives of affordable healthcare in the country and globally on a sustained basis.
The PLI Schemes for Bulk Drugs and for Medical Devices was approved by the Government on 20.03.2020. The initial guidelines for implementation of both the schemes were initially issued on 27.07.2020 were amended based on the feedback received from the industry. These revised guidelines were issued on 29.10.2020.
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