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. The scheme, aimed at enhancing India’s manufacturing capabilities in the pharmaceutical sector, has received 55 applications and selected 55 applicants, including five for In-vitro Diagnostics (IVD) devices, with a committed investment of Rs 17,275 crore. The scheme has a total outlay of Rs 15,000 crore and is scheduled to run from 2020-2021 to 2028-29. So far, the selected applicants have made sales worth Rs 1,16,121 crore, including exports of Rs 75,141 crore. The scheme also covers the manufacturing of specialised pharmaceuticals and IVD devices.
The Pradhan Mantri Bhartiya Janaushadhi Pariyojana, a flagship scheme of the Department of Pharmaceuticals, has successfully opened 10,006 retail outlets across the country to provide quality generic medicines at affordable prices to the poor and underprivileged. The scheme, which has added 206 medicines and 13 surgical equipment in 2023, now offers a total of 1,965 medicines and 293 surgical equipment. These cover major therapeutic groups such as anti-infectives, anti-diabetics, cardiovasculars, anti-cancers, and gastro-intestinal medicines.
The Department of Pharmaceuticals has also implemented schemes to promote domestic manufacturing of critical key starting materials (KSMs), drug intermediates (DIs), active pharmaceutical ingredients (APIs), and medical devices. As of September 2023, a total of 48 projects have been approved under the PLI scheme for critical KSMs, DIs, and APIs, with a committed investment of Rs 3,938.57 crore. These projects have generated employment for 2,777 individuals and made sales worth Rs 817.33 crore, including exports. Similarly, the PLI scheme for medical devices has approved 26 projects with a committed investment of Rs 1,330.44 crore. These projects have created employment for 4,546 individuals and made sales of Rs 3,251.76 crore, including exports.
The pharmaceutical sector has also seen significant foreign investment, with Rs 4,456 crore of foreign direct investment (FDI) inflows from April 2023 to September 2023. Additionally, the Department of Pharmaceuticals has approved six FDI proposals worth Rs 9,848 crore for brownfield projects between April 1, 2023, and November 30, 2023.
