Key View
- India’s production-linked incentive scheme will reduce imports by promoting domestic manufacturing of pharmaceuticals.
- The country will remain keen to secure its drugs market from external shocks, lessen import dependencies, and continue support for the domestic production capabilities in APIs.
- Reducing India’s dependence on Mainland China will not be easy to achieve.
India’s production-linked incentive (PLI) scheme will reduce import by promoting domestic manufacturing of pharmaceuticals. The Indian government approved a production-linked incentive (PLI) scheme in February 2021 targeting India’s pharmaceutical sector for enhancing drug manufacturing capabilities and expanding exports. The key objectives of the scheme are:
