PLI program for the pharmaceutical sector will benefit 55 companies, according to the Center
The ministry said it received a total of 278 applications, of which 55 candidates were selected.
The program provided for applications for three different product categories.
The first category included biopharmaceuticals, complex generic drugs, patented or expiring drugs, cell-based or gene therapy drugs, orphan drugs, special empty capsules such as HPMC, pullulan, enteric, etc., complex excipients and plant protection products. The second category covered active pharmaceutical ingredients / key raw materials / intermediates (excluding those covered by the previous PLI regime).
The scheme also covered in the third category reused drugs, autoimmune drugs, anticancer drugs, antidiabetic drugs, anti-infective drugs, cardiovascular drugs, psychotropic drugs and antiretroviral drugs, in vitro diagnostic devices. and other drugs not manufactured in India. “With this, a strong surge of investment is expected from the pharmaceutical industry which ultimately aims to achieve the objectives of the program,” the ministry said in a statement.
According to the ministry, companies such as Sun Pharmaceutical Industries, Aurobindo Pharma, Dr Reddy’s Laboratories, Lupine, Mylan, Cadila, Cipla, among others, will be the beneficiaries.
Cabinet approval, the ministry said, is in line with “Aatmanirbhar Bharat” strategy to enhance India’s manufacturing capabilities by increasing investment and production and boosting exports in 10 sectors.
The program also aims to contribute to the diversification of products towards high-value goods in the pharmaceutical sector. “One of the other goals of the program is to create global champions in India who have the potential to grow in size and scale using cutting edge technology and thus penetrate global value chains,” the ministry said.