Cabinet approves PLI plan for pharmaceuticals

Why is it in news?
  • The Union Cabinet approved the Production Linked Incentive (PLI) Scheme for the pharmaceuticals and IT hardware sectors.
Details:
  • The PLI scheme for pharmaceuticals and IT hardware would have an outlay of ₹15,000 crore and ₹7,350 crore, respectively.
For Pharmaceuticals:
  • The PLI scheme for pharmaceuticals will remain in effect for nine years till 2028-29.
  • It 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 scheme is expected to bring in investment of ₹15,000 crore in the pharmaceutical sector.
For IT hardware sector:
  • The Cabinet approved the PLI Scheme for IT hardware such as laptops, tablets, all-in-one PCs and servers.
  • The scheme, under which an incentive will be given on net incremental sales of goods manufactured in India for four years.
  • It will benefit five ‘major global players’ and ten domestic ‘champions’ in IT hardware.
Posted by Jawwad Kazi on 25th Feb 2021
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