Chemicals and Fertilizers Ministry okays 8 applications each under PLI scheme for domestic manufacturing of APIs, drug intermediates and medical devices

Our Bureau | | Updated on: Dec 09, 2021
image caption

The commercial production of these plants is projected to begin from April 1, 2023

The Chemicals and Fertilisers Ministry on Thursday said it has approved eight more companies including Globela Industries, Alta Laboratories, Sudarshan Pharma Industries, Aviran Pharmachem, KP Manish Global Ingredients, Alkimia Parma-chem and Honour Lab for the production-linked incentive (PLI) scheme in the pharma sector. The financial outlay under this scheme is ₹151.12 crore with an employment generation of 1,951.

The scheme aims to promote domestic manufacturing of critical key starting materials (KSMs)/ drug intermediates and active pharmaceutical ingredients (APIs) in the country. The commercial production of these plants is projected to begin from April 1, 2023 onwards, as per the release.

Also read: 55 pharma companies qualify for ₹15,000-crore PLI scheme

With the approval of these applications, the total 50 applications with a committed investment of ₹ 4,498.38 crore have been cleared. The government expects employment generation of about 10,743 by setting up these plants. Setting up of these plants will make the country self-reliant to a large extent in respect of these bulk drugs.

Medical devices segment

Besides this, in the medical devices segment, the Ministry also gave green signal to 8 companies under the PLI scheme. These companies are Philips Global Business Services, Allied Medical, Deck Mount Electronics, Microtek New Technologies, Meril Healthcare, Meril Life Sciences, Envision Scientific and Bio India Interventional Technologies. This will entail a total investment of ₹260.40 crore by the companies and employment generation of about 2,599. The commercial production is expected to start from April 1, 2023 onwards, as per the release.

With this, the total applications approved under the above PLI scheme for both rounds aggregate to 21 with a committed investment of ₹ 1,059.33 crore and employment generation of nearly 6,411.

Published on December 09, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you