Updated: June 2, 2021 12:47:41 am
The government on Tuesday issued operational guidelines for the production linked incentive scheme for the pharmaceutical industry to enhance India’s manufacturing capabilities by increasing investment and production in the sector.
The Department of Pharmaceuticals has notified the ‘Production Linked Incentive (PLI) Scheme for Pharmaceuticals, for which the approved outlay is Rs 15,000 crore, the Ministry of Chemicals and Fertilizers said in a statement. “The scheme envisages to create global champions out of India who has the potential to grow in size and scale using cutting edge technology and thereby penetrate the global value chains,” the statement added.
Based on a series of consultations with the pharmaceutical industry and stakeholders in the government, the operational guidelines for the scheme have been prepared and issued on June 1. The scheme is now open to applications from the industry, the ministry said.
The applications are invited in the three groups based on the Global Manufacturing Revenue of FY 2019-20 of the applicants.
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