Government plans PLI scheme for basic chemicals used in pharmaceutical and other industries: Mansukh Mandaviya, ET HealthWorld

Government plans PLI scheme for basic chemicals used in pharmaceutical and other industries: Mansukh Mandaviya, ET HealthWorld

New Delhi: Minister of Fertilizers mansk mandaviya Calling on Friday on the pharmaceutical and medical device industry to focus on producing quality products at affordable prices so that they can compete globally, Product-linked incentives Basic Chemicals (PLI) Scheme.

Lecture at International Conference on Pharmaceuticals and Pharmaceuticals Medical equipment fieldThe minister said the Modi government is “not only pro-poor and farmers, but also industry-friendly” and all policies are formulated after extensive consultations with industry and other stakeholders. said there is.

Mr. Mandaviya emphasized: India is the “world’s pharmacy”, and in order to maintain its leadership position, the industry must also focus on research and innovation, in addition to being aware of developments around the world.

He said the industry needs to be ready to face global competition. Mandaviya said it needs to be “affordable and have high-quality manufacturing” to compete globally.

“We have to build our reputation on affordability and quality. Negotiating with quality hurts our world-class reputation. I don’t want to tolerate that,” he said. .

He called on the industry to cooperate with the measures taken by the government to ensure the quality of the pharmaceutical industry. Medical equipment field.

“Negligence in terms of quality will have a negative impact on global competition,” he said, adding that he would not take tough measures against the industry.

Mr Mandaviya emphasized that the government has introduced PLI-I and PLI-II schemes to increase domestic production and also promote exports towards self-reliance of this sector. Based on industry feedback, Mandaviya said, “In the coming days, we will also devise a PLI scheme for basic chemicals.”

The minister said there are a number of basic chemicals needed for pesticides, petrochemicals and active pharmaceutical ingredients (Active pharmaceutical ingredient)industry.

“You need basic chemicals to make APIs, so we got a proposal to introduce PLI into the basic chemicals themselves,” he said, adding that this would lead to affordability and self-reliance.

According to the official statement, Pharmaceutical department has launched a PLI scheme for pharmaceuticals in 2021. The financial expenditure under this PLI scheme is Rs 1,500 crore over 6 years. It also implements two of his other PLI schemes: PLI for Bulk Pharmaceuticals and PLI for Medical Devices.

Mr Mandaviya also stressed the need for research and development in this area and urged MSMEs working in this area to make use of government facilities open to all.

Prior to his speech, the minister released the National Medical Devices Policy 2023 and the strategy document for this policy. He also launched the Medical Equipment Export Promotion Council.

Mandaviya also launched the “Common Facility Medical Device Cluster Support (AMD-CF)” scheme.

  • Published May 26, 2023 at 4:19 PM IST

Join a community of over 2 million industry professionals

Subscribe to our newsletter for the latest insights and analysis.

ETHealthworld Download the App

  • Get real time updates
  • save your favorite articles

Scan to download app

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *