Govt plans to bring PLI scheme for basic chemicals

Chemicals and Fertilizers Minister Mansukh Mandaviya urges affordable quality manufacturing and announces plans to introduce the PLI scheme for basic chemicals at an international pharma conference.

chemicals

Image Source: Pexels

Addressing an international conference on the pharma and medical devices sector, Chemicals and Fertilisers Minister Mansukh Mandaviya asked the pharma-medical devices industry to focus on manufacturing quality products at affordable rates to compete globally. The minister also announced plans to bring a Product Linked Incentive (PLI) scheme for basic chemicals.

Mr. Mandaviya emphasized the government’s implementation of PLI-I and PLI-II schemes to enhance domestic production, foster self-reliance, and boost exports in the sector.

Taking into account industry feedback, Mr. Mandaviya announced that a PLI scheme for basic chemicals will be introduced in the near future.

The Minister said there are many basic chemicals which are required in agrochemicals, petrochemicals 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.

As per an official statement, the Department of Pharmaceuticals introduced the PLI scheme for pharmaceuticals in 2021, with a financial allocation of ₹15,000 crore over a six-year period. This scheme also encompasses two additional PLI schemes: one for bulk drugs and another for medical devices.

Leave a comment

Subscribe To Newsletter

Get to know of latest happening in TPCI & in the world of trade and commerce