Production Linked Incentive(PLI) Scheme for Bulk Drugs and PLI Scheme for Medical Devices have shown a very positive response from the pharmaceutical as well as the medical device industry, according to the press statement. The industry has shown a very good response to these schemes whereby 215 applications made by 83 pharmaceutical manufacturers have been received under the PLI Scheme for bulk drugs. Similarly, 28 applications made by 23 medical device manufacturers have been received under the PLI Scheme for medical devices. The closing date of applications was 30 November 2020. IFCI is the Project Management Agency (PMA) for the implementation of both the schemes.
The applications’ appraisal process commenced from 1 December 2020 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 approving the applicants is 90 days under the PLI scheme for bulk drugs and 60 days under the PLI scheme for medical devices. However, the PMA and the Department of Pharmaceuticals’ best efforts will be done to give early approvals to the participants under the scheme.
Looking at the increasing imperative of drug security, domestic production capability in bulk drugs would ensure higher resilience of the Indian pharmaceutical industry to external shocks. The PLI scheme for medical devices will help meet the product diversification and production of innovative and high-value medical devices in India. These initiatives can contribute significantly to achieving the higher objective of affordable healthcare in the country and globally on a sustained basis.
The PLI schemes for bulk drugs and medical devices were approved by the Government on 20 March 2020. The initial guidelines for implementing both the schemes, which were initially issued on 27 July 2020, were amended based on the industry’s feedback. These revised guidelines were issued on 29 October 2020. Both the schemes have shown a very encouraging response from the pharmaceutical and the medical device industry.