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Economy, India

December 19, 2024

India’s Pharmaceutical Sector Sees Significant Growth Under Modi’s PLI Scheme

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India’s pharmaceutical industry is experiencing substantial growth thanks to the Production Linked Incentive (PLI) scheme introduced by the Modi government. The scheme has successfully boosted the manufacturing of high-value drugs, including biopharmaceuticals, complex generics, and treatments for cancer, autoimmune disorders, and cardiovascular diseases.

According to a report from the parliamentary standing committee on chemicals and fertilisers, the PLI scheme has significantly outperformed expectations. Investments under the scheme have reached Rs 33,344.66 crore, nearly double the originally committed Rs 17,275 crore. Additionally, the cumulative sales generated by the scheme have totaled ₹2.26 crore, with export sales accounting for ₹1.44 crore. The growth under the PLI scheme marks a significant milestone in strengthening India’s pharmaceutical sector.

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December 22, 2024 7:38 pm