Incentives worth ₹6,940 crore will be given over nine years beginning with the current financial year.
The government on Friday approved 14 projects belonging to two different categories for manufacturing active pharmaceutical ingredients (API), drug intermediaries (DI) and key starting materials (KSMs) under a production-linked incentive (PLI) scheme meant for making the country self-reliant in critical bulk drugs production.
In total, the government received 215 applications for 36 products spread across the four target segments The incentives worth ₹6,940 crore will be given over nine years beginning with the current financial year.
As many as five projects belonging to the first target segment with a committed investment of ₹3,761 crore were already cleared on January 22 by the Ministry of Chemicals and Fertilisers.
The current lot is related to category 2 and 3 technologies. The projects belonging to the fourth segment are expected to be announced in the next few days, an official statement said. Under segment 2, eight projects with a total committed investment of over ₹422 crore have been selected. Prominent among them are a ₹198.36 crore project from M/s MacleodsPharmaceuticals Limited to produce antibiotic drug Rifampicin as well as ₹57 crore project from M/s Sudarshan Pharma Industries Limited to make Vitamin B1.
In Segment 3, a total of six projects with a committed investment of ₹439.74 crore have been approved. Among them is a project by Sadhana Nitro Chem Limited to manufacture para amino phenol at an investment of ₹197.27 crore, the statement said.