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With an aim to enhance India’s manufacturing capabilities in the pharmaceutical sector, the Department of Pharmaceuticals (DoP) has released the first tranche of incentives under the Product Linked Incentive (PLI) scheme of pharmaceuticals amounting to Rs 166 crore to four selected applicants.

Under the Atmanirbharta initiative of the Government, Department of Pharmaceuticals launched the PLI scheme for pharmaceuticals in 2021. The financial outlay under this PLI scheme is Rs 15,000 crore over a period of six years. So far, 55 applicants have been selected under the scheme, including 20 Micro, Small & Medium Enterprises (MSMEs).  The financial year of 2022-2023 being the first year of production for the PLI Scheme, DoP has ear-marked Rs 690 crore as the budget outlay.

Against the expected investment of Rs 17,425 crore in the pharmaceutical sector over the scheme period, the scheme has garnered an investment of Rs 16,199 crore by these 55 applicants in the first year of implementation itself. Against the expected employment of 1 lakh over six years scheme period, 23,000 persons have been given employment, so far.