New Delhi, India (CU)_ According to the Ministry of Chemicals and Fertilizers, 55 businesses have been chosen to participate in the PLI program in the pharmaceutical industry, which was finalized on February 24, 2021. Accordingly, SIDBI will act as the Project Management Agency for the PLI project, which has a budget of INR 15,000 crore. According to the ministry, the Cabinet clearance is in accordance with the “Atmanirbhar Bharat” plan, which aims to boost India’s manufacturing capacity by raising investment and production while also expanding exports in ten sectors.
Additionally, the initiative also intends to help the pharmaceutical industry’s diversification by focusing on high-value commodities. According to the ministry, the aim of the initiative is to bring out a global leader. It said, “One of the further objectives of the scheme is to create global champions out of India who have the potential to grow in size and scale using cutting edge technology and thereby penetrate the global value chains”.
On June 1, 2021, the Pharmaceuticals Department in consultation with pharma industry, associated departments, and NITI Aayog announced rules for the scheme inviting submissions from the pharma sector. The PLI program would give cash incentives to chosen applicants based on predetermined selection criteria for increased sales (over the base year) of pharmaceuticals and in-vitro diagnostic medical equipment.
Each member will be given an incentive for a maximum period of six years, based on the amount of money invested and the sales achieved. According to the ministry, a total of 278 applications have been received, and 55 have been chosen. The plan is divided into three distinct product categories for which applicants have submitted applications.
Biopharmaceuticals, complicated generic medications, patented drugs or drugs nearing patent expiration, cell-based or gene therapy drugs, orphan drugs, unique empty capsules such as HPMC, pullulan, enteric, etc., complex excipients, and phytopharmaceuticals are all included in category one. Active pharmaceutical ingredients/key starting materials/drug intermediates, with the exception of APIs/key starting materials/drug intermediates covered under the department’s prior PLI scheme for APIs/KSMs and DIs fall into category two. Repurposed medications, autoimmune drugs, anti-cancer drugs, anti-diabetic drugs, anti-infective drugs, cardiovascular drugs, psychiatric drugs, and antiretroviral drugs; in vitro diagnostic equipment; and additional drugs not made in India are included in category three.
