New Delhi (The Hawk): The Indian Pharmaceutical industry is the 3rd largest in the world by volume. India exported pharmaceuticals worth Rs. 1,75,040 crore in the financial year 2021-22, including Bulk Drugs/ Drug Intermediates. India exported about Rs 33,321 crore and imported Rs 35,249 crore worth APIs and Bulk drugs in 2021-22.
In order to make the country Atmanirbhar in APIs and drug intermediates, the Department of Pharmaceuticals is implementing the following three schemes by attracting large investments in the sector to ensure their sustainable domestic supply and thereby reduce India’s import dependence on other countries: -
The Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates (DIs) and Active Pharmaceutical Ingredients (APIs) in India, with a financial outlay of Rs. 6,940 crores and the tenure from FY 2020-2021 to FY 2029-30, provides for financial incentive for 41 identified products. A total of 51 applicants have been selected under the scheme.
The Production Linked Incentive Scheme for Pharmaceuticals, with a financial outlay Rs. 15,000 crores and the tenure from FY 2020- 2021 to FY 2028-29, provides for financial incentive to 55 selected applicants for manufacturing of identified products under three categories for a period of six year. The eligible drugs under this scheme include APIs.
The Scheme for Promotion of Bulk Drug Parks, with a financial outlay of Rs. 3,000 crores and the tenure from FY 2020-2021 to FY 2024-25, provides for financial assistance to three States for establishing Bulk Drug Parks. The proposals received are under evaluation. This information was given by Minister of State for Chemicals and Fertilizers, Shri Bhagwanth Khuba in a written reply in Rajya Sabha today.