News18» News»Business»Cabinet Approves PLI Scheme for Pharmaceuticals, Says 'Move Will Bring Investment of Rs 15,000 Crore'
1-MIN READ

Cabinet Approves PLI Scheme for Pharmaceuticals, Says 'Move Will Bring Investment of Rs 15,000 Crore'

File photo of Union Minister Prakash Javadekar.

File photo of Union Minister Prakash Javadekar.

The PLI scheme for pharma is expected to promote the production of high-value products in the country and increase the value addition in exports.

The government on Wednesday approved Production Linked Incentive (PLI) scheme for pharmaceuticals, and said the move will bring investments of Rs 15,000 crore into the sector. The scheme will benefit domestic manufacturers, spur job opportunities and contribute to availability of wider range of affordable medicines for consumers. It is expected to bring in investment of Rs 15,000 crore in the pharmaceutical sector, an official release said.

The PLI scheme for pharma is expected to promote the production of high-value products in the country and increase the value addition in exports. Total incremental sales of Rs 2,94,000 crore and incremental exports to the tune of Rs 1,96,000 crore are expected during six years from 2022-23 to 2027-28, the release added.

first published:February 24, 2021, 17:25 IST