Eight plants with Rs.260.40cr to commence production from 1 April 2023 onwards
Philips Global Business Services LLP and seven other companies have received approval to setup manufacturing units under the Department of Pharmaceuticals’ Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of Medical Devices.
The 8 plants have committed Rs.260.40 crore investment with commercial production is projected from 1 April 2023 onwards, said the Ministry of Chemicals and Fertilizers’ Empowered Committee in announcements of approvals on 9 Dec 2021.
Philips has committed investment of Rs.103.46 crore sector, added the Ministry while updating the progress of Rs.3,420 crore medical devices PLI for the period of 2020-21 to 2027-28.
The other manufacturers are:
Allied Medical Limited (investing Rs.22.89 crore)
Deck Mount Electronics Limited (Rs.10.00 crore)
Microtek New Technologies Private Limited (Rs.4.50 crore)
Meril Healthcare Private Limited (Rs.30.03 crore)
Meril Life Sciences Private Limited (Rs.35.06 crore)
Envision Scientific Private Limited (Rs.48.73 crore)
Bio India Interventional Technologies Private Limited (Rs.5.37 crore)
With these latest approvals, the Ministry has approved 21 manufacturing units with Rs.1,059.33 crore investment.
The plants will make the country self-reliant to a large extent in the specified target segments in the Medical Devices Sector, said the Ministry. fiinews.com
