Cabinet approves promotion of the Domestic Manufacturing of Medical Devices in country

The Union Cabinetchaired by the Prime Minister, Shri Narendra Modi has approved the following schemes:

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• The scheme on Promotion of Medical Device Parks for financing CommonInfrastructure Facilities in 04 Medical Device Parks with financial implications of Rs. 400 crore.
• The   Production   Linked   Incentive (PLI) Scheme   for   promoting   domesticmanufacturing of medical devices with financial implications of Rs. 3,420 crore.

The PLI Scheme for promoting domestic manufacturing of Medical Devices would boost domestic manufacturing and attract large investments in the medical device sector, particularly in the identified target segments. It will lead to expected incremental production of Rs.68,437 crore over a period of five years. The Schemes will lead to generation of additional employment of 33,750 jobs over a period of five years.