Summary:

Mr. Arunish Chawla, Secretary of the Department of Pharmaceuticals, revealed at Assocham's Annual Pharma Summit that 50 new greenfield factories will be developed over the next two years under the Production-Linked Incentive (PLI) scheme for pharmaceuticals and medical devices. This program, part of the 'Make in India' campaign, aims to boost production and innovation in the industry, with an additional 50 factories slated for completion soon.

He emphasized the significant impact of PLI programs on exports, citing factories that have facilitated US$ 10 billion in exports to highly regulated global markets over the last two years. He challenged the assumption that India is significantly reliant on bulk drug imports, noting a trade balance achieved last year. Over half of domestic drug output is exported, demonstrating the industry's export-oriented nature. The Meditech industry has also outpaced imports of surgical and consumable products, with double-digit growth in imaging devices and body implants. Pharmaceuticals and medical technology are currently India's fourth-largest manufacturing export sector, following automotive, petrochemicals, and electronics.

Source: IBEF 

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