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Mint
2 days ago
- Business
- Mint
India bulks up its drugs PLI scheme in renewed pushback against Chinese imports
New Delhi: India is looking to give a significant boost to its production-linked incentives for drug manufacturing, particularly in terms of its ambition to reduce the domestic pharmaceutical industry's dependence on China for its raw materials. The upgraded PLI scheme will include more molecules used in manufacturing key starting materials (KSMs), drug intermediates, and active pharmaceutical ingredients (APIs), according to a communication issued on 14 May by the department of pharmaceuticals, which Mint has reviewed. Details such as allocation, capacity, and incentive ceiling for the upgraded drug PLI scheme are being worked on, adepartment official said, declining to be identified. Key starting materials and drug intermediates are chemical compounds used to synthesise APIs, or bulk drugs, which are the main components of a drug providing its intended medical effect. India's API industry is a crucial segment of its overall pharmaceutical sector, accounting for about 35% of the market, according to Invest India. But the domestic pharmaceutical industry is dependent on imports for 80% of its bulk drug requirement. This is also because a significant chunk of the domestic production is meant for overseas markets. In 2024-25, India imported bulk drugs and advanced drug intermediates worth $3.5 billion, while exports accounted for nearly $3.5 billion, according to India's commerce ministry. About 65% of the imports came from China. In 2023-24, the exports were higher at $4.79 billion while the imports were at $4.56 billion. For the upgraded PLI scheme, the department of pharmaceuticals has sought applications for manufacturing raw materials required to produce life-saving antibiotics, antifungal drugs, and medicines used in the treatment of diseases such as epilepsy and diabetes. 'As per the decision taken, conditions under the scheme such as allocation according to the available capacities, incentive ceiling in respect of products and limit of incentive upto production tenure i.e. upto FY2027-28, for chemical synthesis products and upto FY2028-29 for fermentation-based products, have to be complied with," the department of pharmaceuticals said in its notice. The department of pharmaceutical's secretary, Amit Agarwal, and its spokesperson did not reply to queries emailed on 1 June. Also read | India puts big pharma concessions on table as US trade deal nears finish line 'Need protection from China' The Central government launched PLI schemes in 2020 for domestic manufacturing of drugs with a financial outlay of ₹6,940 crore, chiefly to cut the industry's reliance on China. The production tenure for those PLI schemes stretches from 2022-2023 to 2028-29. Currently, the government has 14 PLI schemes in play for India's pharmaceutical sector, including for medical devices, pharmaceuticals, and bulk drugs. According to the government, under the PLI scheme for bulk drugs, 48 projects have been selected, of which 34 have been commissioned for 25 bulk drugs. The scheme has helped domestic pharma companies begin production of key drug ingredients such as penicillin G and clavulanic acid that are used in manufacturing antibiotics including amoxicillin. '(But) there are certain drugs in the existing or previous PLI scheme for bulk drugs/APIs which are unviable even after considering incentives under PLI," said R.K. Agrawal, national president, Bulk Drugs Manufacturers Association of India. 'Industry is also not finding solution/safe guards to Chinese dumping of these products in future as the 10% incentive provided under the scheme will not be able to protect the industry. DoP (the department of pharmaceuticals) is trying to seek industry interest in the same products and providing one more opportunity," Agrawal said. Also read | India tightens export rules for medicines to check wide misuse as narcotics in overseas markets A director at a company that participated in the existing PLI scheme for bulk drugs said that despite investing heavily in producing an important API, including establishing a manufacturing facility for it, the firm was going into losses. 'Right now, we are selling out products at a 30% loss. China has reduced the price of its raw materials or APIs by 40%, and people are buying from China even though products are available domestically," the director said, speaking on condition of anonymity. 'We made our representation to the government that we need protection from China. The government has now created a strategy where they are practically going to implement the minimum import price on China to defend the previous PLI scheme, the product for which we have won the PLI," the director added. Also read | ICMR gets a breakthrough in attempts to develop first indigenous Nipah virus medicine A growing domestic industry Given India's growing lifestyle-related disease burden, the domestic pharma industry uses bulk drugs largely in manufacturing antibiotics to manage non-communicable diseases such as cardiovascular diseases, chronic respiratory diseases, and diabetes. India's API market is projected to reach $22 billion by 2030, growing at a compound annual growth rate of 8.3%, according to consulting firm Praxis Global Alliance. Viranchi Shah, national spokesperson, Indian Drugs Manufacturer Association, said that under its upgraded PLI scheme, the government wants to cover molecules for which manufacturing capabilities need to be strengthened and where India's capabilities are underutilized. Pharmaceutical products such as neomycin, erythromycin thiocyanate, and gentamycin will be covered under the new PLI scheme, as per the department of pharmaceuticals' notice. India's pharmaceutical industry is poised for significant growth, Shah said, adding that PLI schemes promoting domestic production of key APIs and KSMs had been 'largely successful". Also read | With state hospitals' essential medicine stock at less than 40%, Centre sounds alarm bells 'Last year, the export of API exceeded the import of API. Certain very critical ingredients, a precursor of paracetamol, para amino phenol (PAP), was manufactured in a very small quantity. When covid-19 struck in 2020, we (India) had only one plant and all the other requirements were imported. Today, we have three plants in India. So the import of PAP has considerably gone down, which results in a better supply chain for paracetamol," Shah said. 'Clavulanic acid was never produced in India but now (it is) being manufactured in India (and) used for antibiotics like augmentin. A very important molecule, Pen-g, used to be manufactured in India 25 years back, but slowly the industry vanished from India due to increasing capabilities in neighbouring countries. It is now being manufactured in India," he added.
Business Standard
17-05-2025
- Business
- Business Standard
FedEx Powers India's Small and Medium Enterprises to Think Big, Ship Smart
VMPL New Delhi [India], May 17: Federal Express Corporation ("FedEx"), the world's largest express transportation company, is empowering India's small and medium enterprises (SMEs) to scale innovative ideas and reach global markets through its SME Connect series--an initiative bringing tailored logistics, digital tools, and strategic insights to emerging business hubs. "As SMEs accelerate their ambitions, we're matching that pace with smarter solutions, stronger infrastructure, and deeper engagement," said Nitin Navneet Tatiwala, vice president of marketing, customer experience, and air network, Middle East, Indian Subcontinent, and Africa (MEISA), FedEx. "Through our SME Connect platform, we're delivering more than packages--we're enabling aspirations for SMEs to compete on the global stage." Launched in 2019, SME Connect has evolved from a knowledge-sharing forum into a dynamic advocacy platform. In FY25, FedEx introduced new formats--SAMPARK, ANUBHAV, and MANTRA--to engage businesses in a more personalized way, aligned to their lifecycle and sectoral challenges, and connect them to global opportunities to thrive in this digital age. These efforts also support national programs like Invest India and Directorate General of Foreign Trade's, One District One Product (ODOP) and District Export Hub (DEH) initiatives, promoting regional export hubs and sector-specific growth in cities like Rajkot, Ghaziabad, Lucknow, Kota, Pune - Chinchwad, Bhilwara, etc. To date, SME Connect has engaged over 5,000 SME customers and prospects through 58 editions held across 55 cities in India. FedEx connects India's entrepreneurs to international markets through its robust network, now featuring 23 weekly flights in and out of India. -FedEx International Priority®: Critical shipments reach key markets in 2-3 business days. * -FedEx International Connect Plus® (FICP): Affordable international e-commerce shipping across 14 AMEA markets, delivering in 1-3 days. * Furthermore, FedEx is investing in digital intelligence to help SMEs in India simplify operations and improve end-to-end shipment visibility. - The FedEx Import Tool (FiT) streamlines imports with real-time tracking, digital documentation, and proactive alerts. - FedEx® Delivery Manager International (FDMi) gives customers flexibility to manage delivery preferences. - FedEx Ship Manager™ automates label generation and paperwork, while the Electronic With Originals feature speeds up customs clearance with digital submissions. -FedEx One-Stop Shop (FOSS) simplifies logistics by integrating FedEx Express and FedEx Logistics services into a single, user-friendly platform. FedEx remains committed to powering the ambitions of India's SMEs by combining global capabilities with local insights. As seen in its recent digital brand film with Chennai Super Kings, which celebrates bold business dreams, FedEx is championing the spirit of out-of-the-box thinking and helping entrepreneurs turn those ideas into global success stories. For more information, visit the FedEx shipping service site. *Transit times vary by origin and destination. For full details, please refer to the get rates and transit time page. About Federal Express Corporation Federal Express Corporation is the world's largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories. Federal Express Corporation uses a global air-and-ground network to speed delivery of time-sensitive shipments by a definite time and date. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
Hans India
14-05-2025
- Business
- Hans India
India can become a global manufacturing, export hub for eyewear: Piyush Goyal
New Delhi: Commerce and Industry Minister Piyush Goyal on Wednesday met Peyush Bansal, Co-founder and CEO of Lenskart, and discussed how India can become a global manufacturing and export hub for the eyewear sector. In a post on social media platform X, the Union Minister said he was 'pleased to learn' about the company's impactful social initiatives. 'Met Peyush Bansal, Co-founder and CEO of Lenskart, and discussed how India can become a global manufacturing and export hub for eyewear,' said Goyal. 'I was pleased to learn about the company's impactful social initiatives to expand access to vision care across the country,' he added. In March this year, the eyewear maker laid the foundation stone for its manufacturing facility near Hyderabad. It would be one of the largest eyewear manufacturing facilities globally. The facility will utilise cutting-edge technology to produce eyewear and related products, setting new standards for quality and innovation in the eyewear manufacturing sector, according to the company. Meanwhile, the Commerce Minister held a comprehensive review of Invest India at a meeting held at Bharat Mandapam in the national capital. The minister emphasised on enhancing the performance, effectiveness and efficiency of Invest India to facilitate greater investments into India. He also discussed avenues for further strengthening investor engagement, empowering MSMEs and boosting manufacturing in the country. Invest India is the national investment promotion and facilitation agency of the Government of India and helps to expedite approvals for the setting up of manufacturing enterprises by speeding up clearances that are required, such as those for the allotment of land. India's manufacturing sector is a significant part of the country's economy, contributing about 17 per cent to the GDP and employing over 27.3 million workers. The government aims to increase its share to 25 per cent by 2025, driven by initiatives like the Make in India policy and Production-Linked Incentive (PLI) schemes.
India Gazette
14-05-2025
- Business
- India Gazette
Piyush Goyal reviews Invest India operations to boost investment, MSMEs, and manufacturing
New Delhi [India], May 14 (ANI): Union Commerce and Industry Minister Piyush Goyal held a comprehensive review meeting and assessed the performance of union government's Invest India, the country's national investment promotion a post on social media platform X, Union Minister stated that the focus was on enhancing the organisation's effectiveness and efficiency to attract greater investments. In addition, the Key discussions included strategies for strengthening investor engagement, empowering MSMEs, and accelerating growth in the manufacturing sector. India is the National Investment Promotion and Facilitation Agency of the Government of India, set up in 2009 as a not-for-profit company under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. Supported by a unique partnership between the central and state governments and industry associations, Invest India serves as the first point of contact for global and domestic investors. It provides comprehensive, end-to-end support across all stages of the investment lifecycle--ranging from pre-investment advisory and facilitation to aftercare and expansion support--with a strong emphasis on enabling manufacturing through the Make in India initiative. The agency focuses on promoting investments in high-impact sectors such as Electronics & Semiconductors, Renewable Energy, Electric Vehicles, Capital Goods, Textiles, Food & Agriculture, Pharmaceuticals, Chemicals & Critical Minerals, and Infrastructure. The Union Government has been actively concentrating on innovation in the manufacturing sector, aiming to make India a manufacturing hub. Government recently revised Credit Guarantee Scheme for Startups (CGSS) to boost domestic manufacturing. Under the CGSS, the government has revised the Credit Guarantee Scheme for Startups (CGSS), and doubled the maximum guarantee cover from Rs 10 Crore to Rs 20 Crore and increased guarantee coverage to up to 85 per cent of the loans up to Rs 10 Crore. The Annual Guarantee Fee has also been halved to 1 per cent for the 27 champion sectors, reducing the cost of borrowing. Government is also focusing on Micro, Small and Medium Enterprises (MSME) sector which has emerged as a highly vibrant and dynamic sector within the Indian economy. MSME sector with more than 6.30 crore enterprises provide employment to more than 24.14 crore people, as per the official data. The Central Government in its Union Budget 2025, announced an increase in investment and turnover limits for the classification of MSMES and introduced customised credit cards with a limit of Rs 5 lakh. (ANI)
Hans India
08-05-2025
- Business
- Hans India
Malls, High Streets Compete as Entertainment Preferences Shift
India's retail entertainment ecosystem is undergoing a significant transformation, with malls, high streets, and standalone experience centers rapidly adapting to evolving consumer demands, according to the newly launched Retail Level-up – The Entertainment Edition report by CBRE South Asia Pvt. Ltd. in partnership with Invest India. The CBRE & Invest India Retail Entertainment Survey 2024-25 blends stakeholder interviews and survey responses from key players, including developers, theme park operators, and family entertainment centre (FEC) providers, offering insights into consumer preferences and sector growth. As per the findings, interactive formats such as bowling alleys, rock climbing, escape rooms, and arcade gaming are drawing higher footfall compared to traditional passive formats like museums or theatrical performances. Among the most frequented options, amusement parks and bowling alleys continue to dominate due to their broader accessibility and deeper market penetration. Child-focused zones, including indoor playgrounds and gaming arcades, are witnessing an uptick in demand, driven by families seeking regular and cost-effective leisure options. Roughly 90 per cent of surveyed individuals expressed willingness to allocate up to Rs 4,000 monthly toward leisure and entertainment experiences, with the Rs 1,000–Rs 2,000 range cited as the most common spend. Respondents from younger age groups particularly favored affordable yet engaging experiences, indicating the need for pricing strategies that balance cost with entertainment value. Additionally, 65 per cent of those surveyed preferred either pure-play entertainment or entertainment paired with food and beverage offerings. Regular participation patterns showed that around 29 per cent engaged in entertainment activities once every three to four months, with stand-up comedy, game arcades, and children's play zones among the top selections. While malls maintain their stronghold in the entertainment landscape, 35 per cent of Gen Z respondents revealed a preference for high streets, and 31 per cent favored standalone centres, pointing to a shift in venue preferences based on convenience and novelty. This evolution suggests a diversifying ecosystem that's no longer reliant solely on traditional mall formats. Anshuman Magazine, Chairman & CEO of CBRE for India, South-East Asia, Middle East, and Africa, noted that entertainment formats are reshaping retail spaces. 'The inclusion of family-centric and experience-oriented zones is redefining mall strategies. Developers now see these entertainment anchors as key components for future-proofing properties through optimized tenant mixes.' Echoing this, Ram Chandnani, Managing Director of Advisory & Transaction Services, CBRE India, pointed out the consistent revenue generation across both metro and tier-II markets. 'Placemaking through experiential dining, green areas, and community spaces is leading to sustained footfall and customer retention. Entertainment zones are not just an add-on—they are central to the consumer draw.' With consumer engagement becoming increasingly experience-led, developers and operators are aligning retail strategies to match this shift.
