Invest India: Production Linked Incentive Scheme (PLI) for Medical Devices
The Production Linked Incentive Scheme (PLI) Scheme for Medical Devices manufacturing proposes a financial incentive to boost domestic manufacturing and attract large investment in the Medical Devices Sector in target segments such as cancer care devices, radiology and imaging devices, anesthetics devices, implants and so on.
Production Linked incentives of up to INR 3,420 Crore (~$456 Mn) will be awarded during the scheme tenure.
The Scheme includes a broad range of product segments ranging from capital equipment, implants, and consumables.
Eligibility shall be subject to committed investment and incremental sales of manufactured goods (covered under Target Segments) over the base year.
Tenure of the scheme is from FY 2020-21 to FY 2027-28, with Base Year as FY 2019-20.
Incentive on 5% on incremental sales over base year of good manufactured in India covered under target segments.
Note1: Other products - For products not explicitly mentioned in the table above the Technical Committee shall decide whether such products shall be considered eligible under the target segment.
Note 2: A key component which constitutes a major part of the finished medical device has a distinct HS code for itself, will be considered as included in the corresponding target segment.
Support to be provided to companies registered and manufacturing target segments in India and having Net Worth (of applicant company including that of Group Companies) greater than Rs. 18 crores.
Scheme exclusive to Greenfield Projects defined under the guideline.
Applicant should not have been declared as bankrupt or defaulter or reported as fraud by any financial institution.
Eligibility under the PLI Scheme will not affect eligibility under any other scheme and vice-versa.
Applicant must meet all the criteria of “committed investment” and “minimum threshold sales” for the year under consideration. The subjected thresholds are detailed in the table below:
For Selection and Application process, click below:
For more information, download the brochure by clicking below:
For more information on PRODUCTION LINKED INCENTIVE SCHEME (PLI) 1.0
FOR BULK DRUGS, please download the documents by clicking below: