Need PLI-like incentive for vaccine manufacturers
The Centre had launched Production-Linked Incentive (PLI) schemes for several sectors over the past few months in order to stimulate economic recovery.
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CHENNAI: The rising demand for Covid-19 vaccines as cases rise again across the country has prompted the Federation of Indian Chambers of Commerce and Industry (FICCI) to suggest a PLI-like incentive scheme for vaccine manufacturers. The Centre had launched Production-Linked Incentive (PLI) schemes for several sectors over the past few months in order to stimulate economic recovery.
According to FICCI, the government also needs to give provisions for immediate and sufficient grants and subsidies, through its Covid funds, for those manufacturers that are already developing or manufacturing vaccines in the country. “There is an urgent and critical need to encourage vaccine manufacturers to substantially augment t
Pharma Sector: Approvals Accorded Under PLI Scheme For Rs 348 Crore Investment In Drug Intermediates And APIs
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In a boost to local manufacturing and reduce import dependence, approvals have been accorded to 16 applicants under Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in the country.
The setting up of these 16 plants will lead to a total committed investment of Rs 348.70 crore and employment generation of about 3,042 by the companies.
The commercial production of these plants is projected to commence from 1 April, 2023 onward, the Ministry of Chemicals and Fertilizers said in a statement.
The setting up of 16 plants will lead to investment worth Rs 348.70 crore and over 3,042 jobs will be created. Their commercial production will start on April 1, 2023
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16 applications cleared under PLI for drug intermediates, APIs
April 13, 2021
Under the scheme, 14 applications have been approved with a committed investment of ₹873.93 crore - funfunphoto
Under the scheme, 14 applications have been approved with a committed investment of ₹873.93 crore - funfunphoto×
Companies have committed investment of ₹348.7 crore, seek to create 3,042 jobs A total of 16 applications have been approved under the Production-Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) with a total committed investment of ₹348.70 crore and employment generation of about 3,042 by the companies.
“The commercial production of these plants is projected to commence from April 1, 2023,” per an official release from the Ministry of Chemicals and Fertiliser on Tuesday. Companies that received a nod for their proposals include Hono