The Centre has allocated Rs 266.64 crore as incentives under the Production Linked Incentive (PLI) Scheme for Medical Devices until FY 2024-25. Additionally, Rs 209.80 crore has been disbursed under the Medical Device Parks Scheme, as per Union Minister for Chemicals and Fertilisers JP Nadda’s statement to the Lok Sabha.
Under the Scheme for Strengthening of Medical Device Industry (SMDI), projects totaling Rs 101.50 crore have been sanctioned under the Marginal Investment Scheme for Reducing Import Dependence (MIS-RID). Furthermore, projects amounting to Rs 88.67 crore have been approved under the Common Facilities for Medical Devices Clusters (CFMDC) component.
The government has introduced various schemes to boost indigenous manufacturing of medical devices, focusing on cutting import reliance and enhancing local production capabilities. The PLI Scheme for Medical Devices, with a total outlay of Rs 3,420 crore, offers incentives on incremental sales in four key segments.
According to Nadda, 27 applications have been greenlit under the scheme, with 14 from MSMEs. These projects have attracted investments of Rs 1,153.07 crore and have commenced domestic production of various medical equipment.
The Medical Device Parks Scheme, with a budget of Rs 300 crore, aids in establishing common infrastructure like testing facilities and warehousing. Currently, three parks are being developed in Noida, Ujjain, and Kanchipuram.
