The Ministry of Chemicals and Fertilisers has said that the government has accorded approval to eight companies under the production linked incentive (PLI) scheme to promote domestic manufacturing of medical devices. The setting up of these eight plants will lead to a total committed investment of Rs 260.4 crore by the companies and employment generation of about 2,599. The commercial production of these plants is projected to commence from April 1, 2023, onwards.
With this the total applications approved under both rounds aggregate to 21 applicants with committed investment of Rs 1,059.33 crore and employment generation of about 6,411. The setting of these plants will make the country self-reliant to a large extent in the specified target segments in the medical devices sector. The establishment of eight plants would lead to a total committed investment of about Rs 151.12 crore by the companies and employment generation of about 1,951.
With an objective to boost domestic manufacturing, attract large investment in the medical device sector, the Department of Pharmaceuticals had launched a PLI scheme to ensure a level playing field for the domestic manufacturers of medical devices with a total financial outlay of Rs 3,420 crore for the period 2020-21 to 2027-28.
