Indian Economy and Issues Relating to Planning, Mobilization, of Resources, Growth, Development and Employment.

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3.PLI SCHEME FOR PROMOTION OF DOMESTIC MANUFACTURING

Approval accorded under PLI Scheme for Promotion of Domestic Manufacturing of critical Key Starting Materials (KSMs)/Drug Intermediates and APIs.

Details:

The PLI scheme offers a production linked incentive to boost domestic manufacturing and attract large investments in sectors like mobile phone manufacturing, specified electronic components, pharmaceuticals, food processing, solar PV manufacturing, medical equipment, etc.
In the pharmaceutical sector, the Department of Pharmaceuticals had launched the PLI Scheme with an objective to attain self-reliance and reduce import dependence in these critical Bulk Drugs – Key Starting Materials (KSMs)/Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in the country.

IMPORTANT POINTS

The Indian pharmaceutical industry is the 3rd largest in the world by volume.
It has a high market presence in several advanced economies such as the US and EU.
The industry is well known for its production of affordable medicines, particularly in the generics space.
However, the country is significantly dependent on the import of basic raw materials, viz., Bulk Drugs that are used to produce medicines.

SOURCE: PIB

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