Latest News | Govt Gives Nod to Several Firms Under PLI Scheme for Medical Devices

New Delhi, Feb 11 (PTI) The government has approved applications from several medical devices 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 medical devices 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 PLI scheme for promotion of domestic manufacturing of medical devices 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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)