The
government has approved a total of 33 applications with a committed
investment of Rs 5,082.65 crore under the production linked incentive
scheme for active pharmaceutical ingredients, an official release said
on Thursday. Setting up of these plants will make the country
self-reliant to a large extent in respect of these bulk drugs, it noted.
In
total, 215 applications have been received for the 36 products spread
across the 4 target segments, the Ministry of Chemicals and Fertilizers
said in the release.
The
Department of Pharmaceuticals has launched a PLI scheme for the
promotion of domestic manufacturing by setting up greenfield plants in
four different target segments with a total outlay of Rs 6,940 crore for
the period 2020-21 to 2029-30.
In total, 215 applications have been received for the 36 products
spread across the 4 target segments, the Ministry of Chemicals and
Fertilizers said in the release.
Nineteen
applications with a committed investment of Rs 4,623.01 crore have
already been approved under Target Segment I, II and III, it added.
Besides, 174 applications were received for 23 eligible products under Target Segment IV.
Out of 174 applications, 79 applications received for 11 eligible
products were considered as per the decided evaluation and selection
criteria by the Empowered Committee in its meeting held on February 27,
2021, the release said.
The
applications of 14 companies that have committed minimum/more than the
minimum proposed annual production capacities and fulfil the prescribed
criteria have been approved, it added.
The setting up of these plants will lead to a total committed
investment of Rs 459.47 crore and employment generation of about 3,715
by the companies, the release noted.
The commercial production of these plants is projected to commence from April 1, 2023, onward.
It
has been further decided to take up the remaining 95 applications under
the Target Segment-IV till March 31, 2021, for scrutiny and approval,
as per the release.
The government on February 25 also approved a production-linked
incentive (PLI) scheme for the pharmaceutical sector, entailing an
outlay of Rs 15,000 crore.
