homeeconomy NewsCentre to inaugurate 40 greenfield plants to transform Indian pharma manufacturing space
Centre to inaugurate 40 greenfield plants to transform Indian pharma manufacturing space
The Indian pharmaceutical sector is set to witness a significant transformation as the government prepares to inaugurate 40 greenfield plants dedicated to manufacturing, bulk drugs, and medical devices. The government had earlier allocated a budget of Rs 6,940 crore for the pharma PLI scheme.
The Indian pharmaceutical sector is set to witness a significant transformation as the government prepares to inaugurate 40 greenfield plants dedicated to manufacturing, bulk drugs, and medical devices.
Speaking to CNBC-TV18 on the sidelines of the Zetwork Smart Manufacturing Summit, Arunish Chawla, the Pharma Secretary, emphasised the substantial effort invested in this initiative, dispelling initial scepticism surrounding the endeavour.
Chawla highlighted the pivotal role played by the Production Linked Incentive (PLI) scheme in bringing about this positive change. He expressed confidence that the upcoming inauguration on Saturday, March 2, would showcase the tangible results of the government's commitment to fostering domestic manufacturing capabilities. These 40 major greenfield plants, previously solely reliant on imports, symbolise a paradigm shift in the Indian pharmaceutical landscape.
“The minister is going to inaugurate 40 greenfield plants—manufacturing, bulk drugs and medical devices—and a lot of hard work has gone into it. The initial scepticism is being proved wrong. The production linked incentive (PLI) scheme is changing the Indian landscape in a big way. You will see on Saturday March 2nd when the minister inaugurates 40 big greenfield plants that were heretofore entirely imported in the country,” Chawla stated.
The government had earlier allocated a budget of ₹6,940 crore for the pharma PLI scheme, and it has witnessed significant progress with funds totalling ₹5,285 crore being allocated by January.
(Edited by : Ajay Vaishnav)
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