Chemicals and Fertilisers Minister Mansukh Mandaviya on Friday asked pharma-medical devices industry to focus on manufacturing quality products at an affordable rates to compete globally, and announced plans to bring Product Linked Incentive (PLI) scheme for basic chemicals.
Addressing an international conference on pharma and medical devices sector, the minister asserted that the Modi government is "pro-poor, pro-farmers but also industry-friendly" and said all policies are being framed after extensive consultations with the industry and other stakeholders.
Mandaviya highlighted that India is the "pharmacy of the world" and the industry needs to focus on research and innovations, besides being aware of development across the world, to maintain its leadership position.
He said the industry should be ready to face global competition.
To win global competition, Mandaviya said there is a need to "bring affordability, and do quality manufacturing."
"We have to advance our reputation with affordability and quality. Bargaining with quality damages our world-class reputation. I do not want to tolerate that," he said.
He asked the industry to cooperate in the actions taken by the government to ensure the quality in pharma and medical devices sector.
Also Read
"Any negligence in the quality will prove to be detrimental in global competition," the minister said, adding he does not want to take stringent actions against the industry.
Mandaviya highlighted that the government has brought PLI-I and PLI-II schemes for this sector to boost domestic production for making it self-reliant and also exports.
Based on the feedback of the industry, Mandaviya said, "in the coming days, we are coming up with PLI scheme for basic chemicals also".
The minister said there are many basic chemicals which are required in agro-chemicals, petro-chemicals and pharma API (active pharmaceutical ingredients) industries.
"To produce API, we need basic chemicals. So we got suggestions to bring PLI for basic chemicals itself," he said, adding this will lead to affordability and help in becoming self-reliant.
According to an official statement, Department of Pharmaceuticals launched the PLI scheme for pharmaceuticals in 2021. The financial outlay under this PLI scheme is Rs 15,000 crore over a period of six years. It also implements two other PLI schemes, namely PLI for bulk drugs and PLI for medical devices.
Mandaviya also stressed on the need for research & development in this sector and asked the MSMEs operating in this field to use government facilities, which have been made open for all.
Before his address, the minister released National Medical Devices Policy 2023 and also strategy document of this policy. He also launched Medical Devices Export Promotion Council.
Mandaviya also launched 'Assistance to Medical Device Clusters For Common Facilities (AMD-CF)' scheme.
(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.)
