Policies, Plans, Schemes, & Indices in News (Economy & Infrastructure)

PLI Scheme for Pharmaceuticals

The Union Cabinet approved Production Linked Incentive (PLI) Scheme for Pharmaceuticals over a period of Financial Year 2020-21 to 2028-29 on 24th Feb. 2021.

Why Introduced?

  • To Promote Investment: In order to incentivize the global and domestic players to enhance investment and production in diversified product categories - bio-pharmaceuticals, complex generic drugs, patented drugs or drugs nearing patent expiry and cell based or gene therapy products, etc.
  • To Reduce Imports: A large proportion of the domestic demand for patented drugs is met through imports. This is because the Indian Pharmaceutical sector lacks in high value production ....
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