The Government of India, recognising the manufacturing disability faced by the medical device sector in India, had in July 2020 issued the Production Linked Scheme for Promoting Domestic Manufacturing of Medical Devices (the “Scheme”). The Scheme proposed a financial incentive to boost domestic manufacturing and attract large investments in the medical device sector.
On February 25, 2023, the Department of Pharmaceuticals, Government of India issued the Guidelines for the effective and smooth implementation of the Scheme (“Guidelines”). The tenure of the Scheme is from April 1, 2020 till March 31, 2028. The Guidelines outline the project criteria, investment criteria, eligibility criteria, incentive calculation, disbursement, etc.
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