Daily Current Affairs Article 24th January 2021: The government has given approval to drug firms including Aurobindo Pharma and Karnataka Antibiotics & Pharmaceuticals under the PLI scheme for promotion of domestic manufacturing of critical bulk drugs.
The Production Linked Incentive (PLI) scheme aims at promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country.
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This will be achieved by setting up greenfield plants with minimum domestic value addition in four different target segments with a total outlay of Rs 6,940 crore for the period 2020-21 to 2029-30.
The scheme was launched by Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers.
The Target Segment-I includes 4 eligible products, viz., Penicillin G; 7-ACA; Erythromycin Thiocyanate (TIOC) & Clavulanic Acid, in which the country is presently fully import dependent. These were considered on priority as per the decided evaluation and selection criteria.
The setting up of plants under the scheme will lead to total committed investment of Rs 3,761 crore by the companies and employment generation for around 3,825 people.
