The Production Linked Incentive (PLI) Scheme marked a significant milestone on August 9, 2024, when the Ministry of Chemicals and Fertilizers revealed that 32 projects had been finished. This program is a crucial part of India’s plan to improve domestic pharmaceutical manufacturing capacities, including the production of drug intermediates, active pharmaceutical ingredients (APIs), and key starting materials (KSMs). The accomplishment of these initiatives successfully marks a critical turning point in fortifying India’s pharmaceutical supply chain and lowering its need on imports.
A budget of ₹6,940 crores was allocated for the PLI Scheme, which was created to boost local medication manufacture and strengthen the robustness of the supply chain. The program intends to strengthen the nation’s pharmaceutical infrastructure and support local manufacture, in line with the ‘Atmanirbhar Bharat’ plan, which encourages self-reliance in important industries. With a combined yearly installed capacity of 56,679 metric tons, the projects included in this design represent a significant increase in the production capacity for necessary pharmaceutical components.
The PLI Scheme has attracted a lot of interest from the industry since its introduction. 48 of the 249 applications that the government received were chosen for development. Ten Micro, Small, and Medium-Sized Enterprises (MSMEs) are working on 13 of these projects, demonstrating how the program helps the smaller participants in the pharmaceutical industry. While 16 more projects are still in development, the completion of 32 projects shows notable progress towards the scheme’s goals.
The regulatory procedures required for these undertakings, such as acquiring environmental clearances and medicine manufacturing licenses, have been made possible in large part by government funding. To fulfill project deadlines, state administrations are actively involved in accelerating these approvals. The PLI Scheme has received total contributions exceeding ₹4,024 crores, surpassing the intended objective of ₹3,938 crores. This suggests that the industry has high faith in the pharmaceutical sector in India.
The projects’ geographic dispersion, which boosts local economies further by being dispersed across multiple states, highlights the initiative’s national significance. With the goal of making India a center for the production of pharmaceuticals worldwide, the Ministry of Chemicals and Fertilizers reiterated its dedication to developing the pharmaceutical sector in that nation. The accomplishment of these projects’ goals of providing a steady supply of necessary medications for domestic use and enhancing India’s independence in the pharmaceutical industry is bolstered by their successful execution.
SOURCE :
DEVDISCOURSE
