The Indian government approved to make the manufacturing unit hub in India. GOI has announced last year PLI (Production Linked Investment Scheme) Rs 5,000 for 33 Active pharmaceutical ingredients.
An official release said on Thursday, companies will able to set up these plants will make the country self-reliant to a large extent in respect of the bulk drugs. The Department of Pharmaceuticals has launched a PLI scheme for the promotion of domestic manufacturing by setting up greenfield plants in four different target segments with a total outlay of Rs 6,940 crore for the Android 2020-21 to 2029-30.
In total, 215 applications have been received for the 36 products spread across the 4 target segment, the Ministry of Chemicals and Fertilizers said in the fresh release. The nineteen applications with a committed investment of Rs. 4,623.01 crore have already been approved under Target Segment I, II, and III.
The commercial production of these plants is projected to commence from April 1, 2023, onwards. The remaining 95 pending applications under the Target Segment IV till March 31, 2021, for scrutiny and approval.