8 Companies Approved Under PLI Scheme For Manufacturing Medical Devices

The government has accorded approval to eight companies under the production linked incentive (PLI) scheme to promote domestic manufacturing of medical devices

The government has accorded approval to eight companies under the production linked incentive (PLI) scheme to promote domestic manufacturing of medical devices, the Ministry of Chemicals and Fertilisers said on Thursday.

The approvals were given during the ninth meeting of the empowered committee held on November 25 after considering all the applications as per the scheme guidelines, the ministry said in a statement.

"The setting up of these eight plants will lead to a total committed investment of Rs 260.4 crore by the companies and employment generation of about 2,599. The commercial production is projected to commence from April 1, 2023, onwards," it added.

With this the total applications approved under both rounds aggregate to 21 applicants with committed investment of Rs 1,059.33 crore and employment generation of about 6,411, the statement noted.