- PLI is a project headed by IFCI for making the Indian pharma industry self-reliant
- The scheme comes under the purview of the Ministry of Chemicals and Fertilisers.
- PLI that had closed the applications on November 30, 2020, has received a response from 83 pharma firms
THD NewsDesk, New Delhi: Commendably, the PLI scheme initiated by the Union Ministry of Chemicals and Fertilizers has received an overwhelming response from the pharmaceutical industry. The production linked incentive (PLI) Scheme’s appraisal process started on December 1, 2020. According to IDMA President, Mahesh Doshi the PLI scheme has already received 215 bulk drugs applications from 83 pharmaceutical firms.
The President of Indian Drug Manufacturers’ Association said in a statement, “It is good to see that the PLI Schemes for Bulk Drugs and Medical Devices which closed on 30-11-2020 has received a very positive response from pharma and medical device industry.”
However, in comparison to the projected estimate of 136 applicants, 83 half the response expected. Although, Doshi believes that a total of 215 applications is enough to realise the dream of attaining a self-reliant Indian pharmaceutical industry.
Further, Dinesh Dua, the chairman of Pharmexcil, commented, “This path-breaking scheme has resulted in an overwhelming response way beyond the number of requisite applicants after the scheme closed yesterday. This is the first step forward to ‘Atmanirbharta’. In five years, we should be at least 60 per cent self-reliant, followed by 100 per cent self-reliant in the next two years.”
According to a PIB release, “The time duration for approving the applicants is 90 days under the PLI scheme for bulk drugs and 60 days under the PLI scheme for medical devices. However, best efforts will be done by the PMA and the Department of Pharmaceuticals to give early approvals to the participants under the scheme.”
“Looking at the increasing imperative of drug security, support to domestic production capability in bulk drugs would ensure higher resilience of the Indian pharma industry to external shocks. These initiatives have the potential to contribute significantly to achieving the higher objective of affordable healthcare in the country and globally on a sustained basis,” stated the release.
Initiated as a part of PM Modi’s vision for an Atmanirbhar Bharat, the scheme plans to strengthen the Indian pharma and medical devices industry. As per Doshi, the number of applications in the fermentation category which has not been disclosed yet might add to the response. Moreover, the scheme is headed by the Industrial Finance Corporation of India, the Project Management Agency (PMA) responsible for PLI’s implementation.
Source: Express Pharma