The government has given approval to applications from several medical device manufacturers under the Production Linked Incentive (PLI) scheme. This has been done with an aim to promote domestic manufacturing.
Key Points
- As per the Ministry of Chemicals and Fertilizers, the companies whose applications have been approved are Sahajan and Medical Technologies, Siemens Healthcare, Wipro GE Healthcare, and Nipro India Corporation.
- The setting up of these plants will result in a total committed investment of Rs 729.63 crore by the companies and will generate employment for around 2,304 persons.
- The commercial production is estimated to begin from April 1, 2022, and the production linked incentive to be disbursed by the Government over the 5 years period would be up to a maximum of Rs 121 crore per applicant per target segment.
- The setting up of these plants will help in making the country self-reliant to a large extent in the specified target segments in the medical devices sector.
- Applications were invited from the companies under 4 different target segments, which included anaesthetics, radiology and imaging and nuclear imaging devices, cancer care/radiotherapy medical devices, and cardio-respiratory medical devices, and all implants including implantable electronic devices.
A PLI scheme has been launched by the Department of Pharmaceuticals for the promotion of domestic manufacturing of medical devices with a total financial outlay of Rs 3,420 crore for the period 2020-21 to 2027-28.