Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices

The scheme “Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices” by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers aims to boost domestic manufacturing and attract large investments through providing financial incentives to companies engaged in manufacturing medical devices in India. The scheme provides incentives based on incremental sales over the base year and subject to threshold investment conditions. The scheme is applicable only for greenfield projects and is implemented through a Project Management Agency. > Target Segments: Target Segment shall mean one of the four segments, viz.: 1. Cancer care / Radiotherapy medical devices 1. Radiology & Imaging medical devices (both ionizing & non-ionizing radiation products) and Nuclear Imaging devices 1. Anaesthetics & Cardio-Respiratory medical devices, Oxygen Concentrators, including Catheters of Cardio-Respiratory Category & Renal Care medical devices 1. All implants, including implantable electronic devices - Tenure of the Scheme: Financial Year 2020-21 to Financial Year 2027-28. - Project Management Agency: The scheme is implemented through a Nodal Agency, namely Industrial Finance Corporation of India (IFCI), which acts as the Project Management Agency (PMA).