Medical sector incentive rate under PLI scheme should be revised to 10 percent: Transasia
The five percent incentive rate is "inadequate" and should be increased to facilitate Indian companies to produce medical devices not only for the country but also for the overseas markets.;
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New Delhi: The Centre should increase the rate of incentive under the PLI scheme to 10 per cent from 5 per cent to reduce dependence on import of medical equipment and boost domestic manufacturing of such products, an official of a company involving in the sector said on Sunday.
The government has introduced the production-linked incentive (PLI) scheme to enhance the country's manufacturing capabilities of medical equipment and encourage the development of technology.
"The PLI scheme is an excellent initiative to make India Atmanirbhar (self-reliant) in the sector. But the incentive rate is just five per cent for the medical technology companies, while the same for the automobile industry is 10 per cent.
"We urge the government to raise it to 10 per cent," Transasia Bio-Medicals chairman and managing director Suresh Vazirani told PTI.
The five per cent incentive rate is "inadequate" and should be increased to facilitate Indian companies to produce medical devices not only for the country but also for the overseas markets.
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