NEW DELHI: The Centre has approved 19 applications under the production linked incentive (PLI) scheme for promoting key pharma-component manufacturing in India. According to an official release on Friday, the applications given approval under the scheme entail a committed investment of Rs 4,623.01 crore and involve the domestic manufacturing of critical key drug intermediates and active pharmaceutical ingredients (APIs).
The Department of Pharmaceuticals had launched a PLI scheme for the promotion of domestic manufacturing through greenfield plants that would have minimum domestic value addition in four different target segments with a total outlay of Rs 6,940 crore for the period 2020-21 to 2029-30. Five applications with a committed investment of Rs 3,761 crore have already been approved under Target Segment I, the ministry said in the statement on Friday.
Under target segment II—fermentation based niche KSMs eight applications, including those of Natural Biogenex Pvt Ltd, Symbiotec Pharmalab Pvt Ltd, Macleods Pharmaceutical Ltd, SudarshanPharma Industries Ltd and Optimus Drugs Pvt Ltd, have been approved.
Under the target segment III key chemical synthesis based KSMs six applications, including those of Saraca Laboratories Ltd, ‘EmmennarPharma Pvt Ltd, Hindys Lab Pvt Ltd, AartiSpeciality Chemicals Ltd, Meghmani LLP and that of Sadhana Nitro Chem Ltd, which is subject to outcome of w writ petiton, have been approved, the release added.
“The setting up of the plants under the scheme will lead to a total committed investment of Rs 862.01 crore by the companies and employment generation of about 1,763,” it said, adding “with this, a total of 19 applications with committed investment of Rs 4,623.01 crore have been approved”.