UPSC Articles
PLI Scheme for Promotion Of Domestic Manufacturing of Critical KSMS/Drug Intermediates and APIs
Part of: GS Prelims and GS-III – Economy
In news
- Approvals have been accorded to 16 applicants under Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in the country.
Key takeaways
- The setting up of these 16 plants will lead to investment of Rs.348.70 crore and employment generation of about 3,042 by the companies.
- The commercial production shall commence from 1st April, 2023 onward.
- The scheme has been launched by the Department of Pharmaceuticals for promotion of domestic manufacturing of KSMs/APIs.
- This will be achieved by setting up greenfield plants with minimum domestic value addition
Do you know?
- The Indian pharmaceutical industry is the 3rd largest in the world by volume.
- However, India is significantly dependent on the import of basic raw materials, viz., Bulk Drugs that are used to produce medicines.
- In some specific bulk drugs, the import dependence is 80 to 100%.
