PLI scheme: Govt looks to get Rs 50,000 crore investments in pharma

In what could turn out to be a major boost to local manufacturing of high-value pharmaceuticals, the Union Cabinet on Wednesday gave in-principle approval to a Rs 15,000 crore production-linked incentive (PLI) scheme for pharmaceutical products.

The government expects to attract investments worth Rs 50,000 crore from domestic and multinational drugmakers through the scheme. The incentive will be in the range of 5-10 per cent of production value, sources said.

The idea is two-pronged — to reduce imports of high-value products like patented drugs, cell-based or gene therapy products, and also boost local manufacturing to a level where India becomes a net