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Govt launches PLI Scheme for manufacturing of medical devices with Rs 3420 Cr
Govt launches PLI Scheme for manufacturing of medical devices with Rs 3420 Cr
11 February 2021 | News
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The medical device sector in India suffers from a considerable cost of manufacturing disability vis-à-vis competing economies, inter alia, on account of lack of adequate infrastructure, domestic supply chain and logistics, high cost of finance, inadequate availability of power, limited design capabilities, low focus on research and development (R&D) and skill development etc.
With an objective to boost domestic manufacturing, attract large investment in the medical device sector, the Department of Pharmaceuticals has launched a Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of Medical Devices to ensure a level playing field for the domestic manufacturers of medical devices with a total financial outlay of Rs 3,420 crore for the period