You are here: Home » Economy & Policy » News
Business Standard

Govt gives nod to several firms under PLI scheme for medical devices

The government has approved applications from several medical devices manufacturers under the Production Linked Incentive (PLI) scheme for the promotion of domestic manufacturing

Topics
PLI scheme | Medical devices | Centre

Press Trust of India  |  New Delhi 

Medical device
Medical device

The government has approved applications from several manufacturers under the Production Linked Incentive (PLI) scheme for the promotion of domestic manufacturing, an official statement said.

The companies include Siemens Healthcare, Sahajanand Medical Technologies,Nipro India Corporation and Wipro GE Healthcare, the Ministry of Chemicals and Fertilizers said.

The setting up of these plants will lead to a total committed investment of Rs 729.63 crore by the companies and employment generation for about 2,304 persons, it added.

"The commercial production is projected to commence from April 1, 2022 and the disbursal of production linked incentive by the Government over the five years period would be up to a maximum of Rs 121 crore per applicant per target segment," the statement said.

The setting up of these plants will make the country self-reliant to a large extent in the specified target segments in the sector, it added.

Applications were invited under four different target segments, including cancer care/radiotherapy medical devices, radiology and imaging and nuclear imaging devices, anaesthetics and cardio-respiratory medical devices, including catheters of cardio-respiratory category & renal care medical devices, and all implants including implantable electronic devices, the ministry said.

The Department of Pharmaceuticals had launched a for promotion of domestic manufacturing of to ensure a level playing field for the domestic manufacturers with a total financial outlay of Rs 3,420 crore for the period 2020-21 to 2027-28, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, February 11 2021. 22:07 IST
RECOMMENDED FOR YOU
.