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Newdelhi:27/7/20: Union Minister for Chemicals and Fertilizers Shri DV Sadananda Gowda launched here today four schemes of Department of Pharmaceuticals for promotion of domestic manufacturing of bulk drugs and medical devices parks in the country . On this occasion MoS(i/c) for Shipping and MoS for Chemicals & Fertilizers, Shri Amitabh Kant, CEO Niti Ayog, Dr P D Waghela, Secretary, Deptt of Pharmaceuticals were also present.
Speaking on the occasion, Shri Gowda said that this in line with the the vision of Prime Minister Shri Narendra Modi, and his clarion call for making India Atma Nirbhar in pharma sector. For this the Government of India has approved four schemes, two each for Bulk Drugs and Medical Devices parks.He exhorted the industry and the States to come forward and participate in these schemes.
He said , India is often referred to as ‘the pharmacy of the world’ and this has been proved true especially in the ongoing Covid-19 pandemic when India continued to export critical life saving medicines to needy countries even during the countrywide lockdown. However, despite these achievements, it is a matter of concern that our country is critically dependent on imports for basic raw materials, viz. Bulk Drugs (Key Starting Materials (KSMs)/ Drug Intermediates (DIs) and Active Pharmaceutical Ingredients (APIs)) that are used to produce some of the essential medicines. Similarly in medical devices sector, our country is dependent on imports for 86% of its requirements of medical devices.
Shri Mandavia said that this is a very important initiative towards further developing Indian pharmaceutical capacities. Giving details of the Guidelines Shri Mandaviya said that the Production Linked Incentive (PLI) schemes for promoting domestic manufacturing of KSMs, DIs and APIs and medical devices will go a long way including to boost domestic manufacturing of 53 bulk drugs, on which India is critically dependent on imports.
The list of 41 products contained in the scheme guidelines will enable domestic production of 53 bulk drugs. Financial incentives will be given to a maximum of 136 manufacturers selected under the scheme as a fixed percentage of their domestic sales of these 41 products manufactured locally with required level of domestic value addition.
The incentives would be subject to annual ceilings communicated in the approval letter. The incentives would be given for a period of 6 years. In case of fermentation based products, the rate of incentive is 20% for first four years, 15% for the fifth year and 5% for the sixth year.
To view the detailed Guidelines please Click here:
