Cabinet approves PLI plan for pharmaceuticals, IT hardware
25th February, 2021
Details:
The Union Cabinet approved the Production Linked Incentive (PLI) Scheme for the pharmaceuticals and IT hardware sectors, entailing an outlay of Rs. 15,000 crore and Rs. 7,350 crore, respectively.
The PLI scheme for pharmaceuticals, for nine years till 2028-29, will benefit domestic manufacturers, help create employment and is expected to contribute to the availability of a wider range of affordable medicines for consumers, the government said.
The scheme is expected to bring in investment of Rs. 15,000 crore in the pharmaceutical sector.
The scheme also aims to create global champions from India that have the potential to grow in size and scale using cutting edge technology and thereby penetrate global value chains.
The Cabinet also approved the PLI Scheme for IT hardware such as laptops, tablets, all-in-one PCs and servers.
This is an important segment to promote manufacturing under AtmaNirbhar Bharat as there is huge import reliance for these items at present.