Government Approved 51 Pharma Companies for Bulk Drug

The Production Linked Incentive (PLI) Scheme has received approval from the Indian government with 51 pharmaceutical companies being given the go-ahead to participate. The approval of this scheme is a significant milestone for India's efforts to decrease reliance on imported pharmaceutical ingredients, while simultaneously promoting and fortifying the bulk drug manufacturing sector. In a spirited declaration, Uma Magesh, Under Secretary to the Indian government's Department of Pharmaceuticals, underscored the government's unwavering dedication to propelling the growth of the Indian pharmaceutical sector.

For a long time, India has heavily depended on China for the acquisition of Active Pharmaceutical Ingredients (APIs) and Key Starting Materials (KSMs). In order to decrease their reliance on China and boost their domestic manufacturing capabilities, India implemented policy changes in 2015. Subsequently, the central government has implemented numerous measures such as creating bulk drug clusters and launching schemes to encourage both fresh players and existing units in augmenting their manufacturing capabilities. The most recent initiative, the PLI scheme, was launched in 2020 with an initial annual budget of Rs 6940 crores. In a progressive move, the government has decided to extend financial incentives to eligible manufacturers for 41 identified products, encompassing 53 APIs, over a period of six years. The Department of Pharmaceuticals communicated the list of 51 pharmaceutical companies that have been approved under the PLI scheme to the Bulk Drugs Manufacturing Association of India (BDMA).