Govt: Pharma PLI investments worth Rs 25,813 cr as of Sept

NEW DELHI: Investments worth Rs 25,813 crore have been made and 56,171 new jobs were added as of September this year under the production-linked incentive scheme for pharmaceuticals, the government said on Friday.

In its year-end review, the Department of Pharmaceuticals (DoP) also said the ‘Pradhan Mantri Bhartiya Janaushadhi Pariyojana’ achieved its target of opening 10,000 retail outlets in 2023 to provide quality generic medicines at affordable prices to the poor and underprivileged.

The production-linked incentive (PLI) scheme for pharmaceuticals is being implemented with an objective of enhancing India’s manufacturing capabilities by increasing investment and production in the sector and contributing to product diversification to high value goods in the pharmaceutical sector.

The total outlay of the scheme is Rs 15,000 crore and the scheme duration is from 2020-2021 to 2028-29, an official statement said. Under the Scheme, 55 applicants have been selected, which includes five applicants of In-vitro Diagnostics (IVD) devices with committed investment of Rs 17,275 crore. Progress made under the scheme and as of September 2023, “investment worth Rs.25,813 crore has been grounded and employment for 56,171 persons have been generated”, it added.

“The sales made by the selected applicants is worth Rs 1,16,121 crore, which includes exports of Rs 75,141 crore. The scheme envisages manufacturing of a specialised category of pharmaceuticals/ IVD devices,” the statement said. In 2023, 206 medicines and 13 surgical equipment were added in the product basket of the scheme. Product basket of PMBJP comprises 1,965 medicines and 293 surgical equipment covering all major therapeutic groups.