Cabinet Approves PLI Scheme For Promotion Of Domestic Manufacturing Of Medical Devices
New Delhi: With an objective to boost domestic manufacturing, attract large investment in the Medical Device Sector, the Department of Pharmaceuticals had launched a Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of Medical Devices to ensure a level playing field for the domestic manufacturers of medical devices with a total financial outlay of Rs.3,420 cr. for the period 2020-21 to 2027-28.
In the first round, 28 applications were received from 23 applicants under the Scheme. Out of which, 13 applications with committed investment of Rs.798.93 crore by the Companies were approved with expected employment generation of around 3,812 persons.
Since few slots remained unfilled for certain products, applications were invited again with the last date of submission as 31.08.2021. Total 14 applications were received.
The setting up of these 8 plants will lead to a total committed investment of Rs. 260.40 crore by the companies and employment generation of about 2,599. The commercial production is projected to commence from 1st April, 2023 onwards.
With this the total applications approved under both rounds aggregate to 21 applicants with committed investment of Rs 1,059.33 crore and employment generation of about 6,411. 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.