Investment: 46 applications with committed Rs.5,355.44 crore
The Government has approved a Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing by setting up greenfield plants with minimum domestic value addition in four different Target Segments (In Two Fermentation based – at least 90% and in Two Chemical Synthesis based – at least 70%) with a total outlay of Rs.6,940 crore for the period 2020-21 to 2029-30.
This PLS supports the department’s objective to attain self-reliance and reduce import dependence in critical Bulk Drugs – Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs).
All the 215 applications received for the 36 products spread across the 4 Target Segments were considered and appraised as per the decided evaluation and selection criteria by the Empowered Committee in its various meetings and selected participants duly informed and Press Notes issued with approval of the Competent Authority.
Now, waitlisted applicants who are otherwise eligible have been approved against slots vacated by withdrawal by companies, which had earlier been granted approvals, the Ministry of Chemicals and Fertilizers said on 31 May 2021.
The applications of the companies kept in ‘Wait List’, which have committed minimum/more than the minimum proposed annual production capacities and fulfil the prescribed criteria have been approved, as under:
With this, a total of 46 applications with Committed Investment of Rs.5,355.44 crore and Expected Employment Generation of about 11,210 have been approved by the Government so far under the PLI Scheme for Bulk Drugs.
Setting up of these plants will make the country self-reliant to a large extent in respect of these Bulk drugs.
The disbursal of production linked incentive by the Government over the six years period would be up to a maximum of about Rs.6,000 crore, the Ministry said. #incentives #banking #investment #manufacturing #health /fiinews.com
