Promotion of Traditional Medicines and Drugs: By volume, India’s pharmaceutical industry is the world’s third-largest. In the fiscal year 2020-21, India exported pharmaceuticals worth Rs. 1,80,551 crore. In the fiscal year 2020-21, India exported bulk medicines and drug intermediates worth Rs.32,857 crore. The government works to promote and develop indigenously manufactured drugs and medicines, as well as give indigenous manufacturing a boost.
The Department of Pharmaceuticals has launched the Production Linked Incentive (PLI) Scheme for the promotion of domestic manufacturing of critical Key Starting Materials (KSM), Drug Intermediates (DIs), and Active Pharmaceutical Ingredients (APIs) in India in order to make the country Atmanirbhar pharmaceuticals. The scheme’s total financial outlay is Rs. 6,940 crores, and it will run from FY 2020-2021 to FY 2029-30. A total of 49 projects worth Rs 3685.38 crore have already been approved.
Scheme launched to boost Indigenous Medicines
Another Production Linked Incentive Scheme for Pharmaceuticals has been launched, this time with a total financial outlay of Rs 15,000 crore and a duration of FY 2020-2021 to FY 2028-29. The scheme aims to improve India’s manufacturing capabilities by increasing investment and production in the pharmaceutical sector, as well as contributing to product diversification of high-value goods. Under this scheme, 55 companies have received approval. APIs, as well as other types of pharmaceutical products, are among the drugs that are eligible under this programme.
The Department has launched a programme to provide additional support to API pharma companies by assisting states in the establishment of three Bulk Drug Parks. In addition, under the Assistance to Pharmaceutical Industry for Common Facilities programme, the Department assists pharma clusters in establishing common infrastructure facilities (API-CF).
The Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS) has also been approved to help SME pharmaceutical companies improve their quality and technology. Shri Bhagwanth Khuba, Minister of State for Chemicals and Fertilizers, provided the information in a written reply to the Lok Sabha on April 1st.