logo
PLI scheme for bulk drugs led to import savings of ₹1,362 cr: Govt to RS

PLI scheme for bulk drugs led to import savings of ₹1,362 cr: Govt to RS

Imports of pharma raw materials worth ₹1,362 crore have been avoided till March 2025 due to the creation of domestic manufacturing capacity for 25 identified items under the production-linked incentive scheme for bulk drugs, Parliament was informed on Tuesday.
In a written reply to Rajya Sabha, Minister of State for Chemicals and Fertilisers, Anupriya Patel said that as of March 2025, against an investment commitment of ₹3,938.5 crore over the period of six years, investment of Rs 4,570 crore has already been made under the PLI Scheme for Bulk Drugs.
"As a result of the scheme, cumulative sales of ₹1,817 crore have been reported over the period from the beginning of the scheme till March 2025, including exports of ₹455 crore, thereby avoiding imports worth ₹1,362 crore and creation of domestic manufacturing capacity for 25 identified KSMs/DIs/APIs," she stated.
The PLI Scheme for Bulk Drugs has a total budgetary outlay of ₹6,940 crore and aims to avoid disruption in supply of critical active pharmaceutical ingredients (APIs) used to make critical drugs for which there are no alternatives by reducing supply disruption risk due to excessive dependence on a single source, the minister said.
Products notified and approved under the scheme prior to commencement of production under the PLI scheme were primarily imported.
The government has also initiated a PLI Scheme for Pharmaceuticals with a total budgetary outlay of ₹15,000 crore.
Under the scheme for promotion of bulk drugs parks, which has a total budgetary outlay of ₹3,000 crore, three parks have been approved and are at various stages of development in Andhra Pradesh, Gujarat and Himachal Pradesh, Patel said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ED arrests ex-Axis fund manager in Rs 200-crore front-running case
ED arrests ex-Axis fund manager in Rs 200-crore front-running case

Indian Express

time2 minutes ago

  • Indian Express

ED arrests ex-Axis fund manager in Rs 200-crore front-running case

The Enforcement Directorate (ED) has arrested Viresh Joshi, a former chief trader and fund manager of Axis Mutual Fund, for allegedly cheating investors of around `200 crore through front-running. Front-running refers to an illegal practice in the securities market in which brokers or traders execute orders for their own benefit using advance knowledge of pending client orders. This malpractice compromises market integrity and disadvantages other investors. Joshi was arrested on August 2 and was produced before a Prevention of Money Laundering Act (PMLA) court which granted the ED his custody till August 8. The ED initiated its investigation on the basis of an FIR registered by Mumbai Police in December 2024, which alleged that Joshi exploited confidential information on the trades to be executed on behalf of Axis Mutual Fund to preemptively trade stocks, generating substantial illicit gains. 'He cheated the investors of Axis Mutual Fund which holds assets under management of more than Rs two lakh crore,' a ED spokesperson said in a statement. 'Joshi had utilised a terminal in Dubai to punch the front running trade orders through mule trading accounts obtained from various brokers… many other traders/brokers had also misused the advance inputs on Axis Mutual Fund Trades and indulged in front running to generate illicit trade profits,' the ED said. The proceeds of crime could be much higher than `200 crore, it said.

MU plans to implement digital evaluation
MU plans to implement digital evaluation

Time of India

time16 minutes ago

  • Time of India

MU plans to implement digital evaluation

Mangaluru: Mangalore University (MU) is considering implementing digital evaluation from the next semester. The recently held syndicate meeting gave a green signal for MU to proceed with the new plan and adopt it if there is adequate space, finance, and manpower available. The four-decade-old university has proposed to procure technology with the help of VTU, Belagavi. The new technology would not only save time but also a substantial amount of money for the cash-strapped university. According to officials, the evaluation cost would decrease by nearly 50%. Providing details, Judith Mendonca, syndicate member of MU, told TOI that currently, the varsity is conducting manual evaluations. The adoption of digital evaluation will reduce the time of evaluation and the number of evaluators. "The technology will save time and money for MU, besides providing results at the earliest. Currently, for each semester examination evaluation, MU spends about Rs 40 lakh, and the cost post-adoption of digital evaluation will be reduced by half. We are pushing for it to be implemented from the next semester itself," she said. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is this legal? Access all TV channels without a subscription! Techno Mag Learn More Undo by Taboola by Taboola With MU having about four lakh undergraduate answer scripts each semester, officials are considering starting digital evaluation with postgraduate courses. Registrar (evaluation) Devendrappa H said that the syndicate body of the varsity has proposed to go for digital evaluation. However, they would not be able to implement it for UG at the earliest. Therefore, they will start with PG courses. Before this, a delegation of officials will visit various institutions across Karnataka that have adopted digital evaluation. "We will educate ourselves on how it is done and what arrangements need to be made," said Devendrappa. He said that the adoption of digital evaluation needs to be integrated with UUCMS. "The one-time cost for setting up the technology is huge. We are looking at various aspects, including whether MU, which is reeling under a financial crunch, can afford it or would the govt sponsor this. Also, a large space is required for the setup," he said. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store