New Delhi : The Indian Pharmaceutical industry is the 3rd largest in the world by volume. India is one of the major producers of Active Pharma Ingredients (API) or bulk drugs in the world. India exported Bulk Drugs/Drug Intermediates worth Rs. 33,320 crore in financial year 2021-22. However, the country also imports various Bulk Drugs/APIs for producing medicines from various countries and most of the imports of the Bulk Drugs/APIs being done in the country are because of economic considerations. India 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 years. The eligible drugs under this scheme include APIs.
- The Scheme for Promotion of Bulk Drug Parks, with a financial outlay of Rs. 3,000crores and the tenure from FY 2020-2021 to FY 2024-25, provides for financial assistance to three States for establishing Bulk Drug Parks.
This information was given by Minister of State for Chemicals and Fertilizers, Shri Bhagwanth Khuba in a written reply in Rajya Sabha today.
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