The pharmaceuticals department has approved 21 FDI proposals worth Rs. 4,681 crores for brownfield projects during 1 January to 30 November this year
NEW DELHI : The Central government on Thursday said that Foreign Direct Investment (FDI) inflows in pharma sector (both pharmaceuticals and medical devices) during current financial year from April to September has been ₹ 8,081 crore while highlighting the key initiatives undertaken in the Department of Pharmaceuticals in the last one year. L Tyrosine
The department has approved 21 FDI proposals worth Rs. 4,681 crores for brownfield projects during 1 January to 30 November this year. However, FDI flow was recorded ₹ 12,097 crore in the financial year 2021-22.
Major achievements of the department of pharmaceuticals include schemes like ‘Pradhan Mantri Bhartiya Janaushadhi Pariyojana’ to provide quality generic medicines at affordable prices to the poor, PLI scheme to strengthen India’s manufacturing capacity in the pharmaceutical sector by increasing investment and production. Besides this, the department also laid special emphasis on promoting domestic manufacturing of medical equipment and strengthening the pharmaceutical industry.
The government said that in the FY21-22, Pharmaceuticals & Medical Devices Bureau of India (PMBI) had made sales of ₹ 893.56 crore which led to savings of approximately Rs. 5300 crores to the citizens. “In the current financial year 22-23 till 30 November, PMBI has made sales of ₹ 758 crore which has led to savings of approx. ₹ 4500 crores with overall saving to upto ₹ 18,000 crores in last 8 years," the department said.
Around 8916 Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJKs) have been opened across the country till November with a target to increase these kendras to 10500 by March 2025.
The government also launched Production Linked Incentive (PLI) for promotion of domestic manufacturing of critical Key Starting Materials (KSMs), Drug Intermediates (DIs), Active Pharmaceutical Ingredients (APIs) by attracting large investments in the sector and thereby reduce India’s import dependency. “Total 249 applications were received in four Rounds. 51 applicants have been approved with committed investment of ₹ 4,138.41 crore against which investment of Rs. 1707 crore has already been incurred. These 51 projects are expected to generate an employment of around 10,598 persons. The work on these projects have already generated employment of 1,907 persons up to September. Based on Quarterly Review Report (QRR) of September, around 21 projects have been commissioned with actual investment of Rs. 890.82 cr. as against total committed investment of Rs. 843.79 crore."
Besides, this government launched Strengthening of Pharmaceutical Industry (SPI) this year three sub-schemes--Assistance to Pharmaceutical Industry for Common Facilities (APICF), Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS) and Pharmaceutical & Medical Devices Promotion and Development Scheme (PMPDS).
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