Govt nod to 33 API applications with over Rs 5k crore committed investment under PLI scheme
New Delhi: The government has approved a total of 33 applications with a committed investment of Rs 5,082.65 crore under the production linked incentive scheme for active pharmaceutical ingredients, an official release said on Thursday.
Setting up of these plants will make the country self-reliant to a large extent in respect of these bulk drugs, it noted.
The Department of Pharmaceuticals has launched a PLI scheme for the promotion of domestic manufacturing by setting up greenfield plants in four different target segments with a total outlay of Rs 6,940 crore for the period 2020-21 to 2029-30.
In total, 215 applications have been received for the 36 products spread across the 4 target segments, the Ministry of Chemicals and Fertilizers said in the release.
Nineteen applications with a committed investment of Rs 4,623.01 crore have already been approved under Target Segment I, II and III, it added.
Besides, 174 applications were received for 23 eligible products under Target Segment IV.
Out of 174 applications, 79 applications received for 11 eligible products were considered as per the decided evaluation and selection criteria by the Empowered Committee in its meeting held on February 27, 2021, the release said.
Read also: PLI scheme likely to boost India's manufacturing output by $520 billion in 5 years: PM Modi
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