Business Standard|March 22, 2020
The Union government on Saturday approved a package comprising four schemes with a total outlay of ₹13,760 crore to boost the domestic production of bulk drugs and medical devices and exports.
The Union Cabinet chaired by Prime Minister Narendra Modi approved outlay of ₹9,940 crore and ₹3,820 crore for bulk drugs and medical devices, respectively, Minister of State for Chemicals and Fertilizers Mansukh Mandaviya told reporters.
The Cabinet also approved a sum of ₹3,000 crore for the next five years for a scheme to promote bulk drug parks and for financing common infrastructure facilities at three such parks, he added.
A sum of ₹6,940 crore has been approved for the Production Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical key starting material (KSM), drug Intermediates and active pharmaceutical ingredients (APIs), Mandaviya said. The PLI scheme will lead to expected incremental sales of ₹46,400 crore and significant additional employment generation over eight years, he added.
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March 22, 2020