Sarkari Yojana
Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices
About Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices
Run by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, the Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices aims to grow domestic manufacturing and pull in significant investment by paying financial incentives to companies that manufacture medical devices in India. Incentives are pegged to incremental sales over the base year and hinge on threshold investment conditions, and the scheme applies only to greenfield projects, implemented through a Project Management Agency. > Target Segments:
A Target Segment refers to one of these four categories:
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 run through a Nodal Agency, the Industrial Finance Corporation of India (IFCI), which serves as the Project Management Agency (PMA).
Scheme Overview
Central Government
Ministry Of Chemicals And Fertilizers
Business Entity
21 Jul 2020
Scheme Details
Eligibility Requirements
To qualify for Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices, applicants must satisfy the following conditions:
General Eligibility:
The applicant must be a company registered in…
The applicant must be a company registered in India.
Registration as a Limited Liability Partnership (LLP) is…
Registration as a Limited Liability Partnership (LLP) is also acceptable.
The applicant must manufacture medical devices falling under…
The applicant must manufacture medical devices falling under the target segments.
The applicant must set up a greenfield project…
The applicant must set up a greenfield project within India.
The applicant must clear the threshold investment and…
The applicant must clear the threshold investment and incremental sales criteria.
The applicant must satisfy every condition specified for…
The applicant must satisfy every condition specified for the disbursement of incentives. Threshold Conditions:
The applicant must reach a minimum cumulative investment…
The applicant must reach a minimum cumulative investment of ₹1,80,00,00,000 over 3 years.
The applicant must reach the incremental sales figure…
The applicant must reach the incremental sales figure specified for each year. Additional Conditions:
The applicant must file a complete application within…
The applicant must file a complete application within the 120-day application window.
Eligibility under this scheme has no bearing on…
Eligibility under this scheme has no bearing on eligibility under other schemes. Target Segments of Medical Devices Eligible under the Scheme: Target Segment No. Description of Medical Devices covered under the Target SegmentTarget Segment 1Cancer care/Radiotherapy medical devicesTarget Segment 2Radiology & Imaging medical devices (both ionizing & non-ionizing radiation products) and Nuclear Imaging DevicesTarget Segment 3Anaesthetics & Cardio-Respiratory medical devices, including Catheters of Cardio Respiratory Category & Renal Care Medical DevicesTarget Segment 4All Implants including implantable electronic devices like Cochlear Implants and Pacemakers> Note:
A key component forming a major part of…
A key component forming a major part of a finished medical device (such as a Rotating Anode Tube, Stationary Anode Tube, MRI Magnet, Flat Panel Detector, or similar item) that carries its own distinct HS code is treated as part of the corresponding target segment. Eligibility Threshold Criteria: SegmentIncentive Rate (on Incremental Sales of Manufactured Goods)Threshold Minimum InvestmentThreshold Minimum Incremental Sales of Manufactured GoodsAll four segments of medical devices (detailed in Annexure A)Year 1: 5%; Year 2: 5%; Year 3: 5%; Year 4: 5%; Year 5: 5%INR 180 Crore over 3 Years; Cumulative Minimum (Crore): Year 1: 60; Year 2: 120; Year 3: 180Year 1: INR 120 Crore; Year 2: INR 240 Crore; Year 3: INR 360 Crore; Year 4: INR 460 Crore; Year 5: INR 560 Crore
Benefits Provided
Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices provides the following benefits to eligible applicants:
Financial Incentive
Financial Incentive: A 5% incentive is paid on incremental sales of manufactured goods, measured against the base year (FY 2019-20).
Documents Required
Applicants should keep the following documents ready before starting the application:
A Certificate of Incorporation
A Certificate of Incorporation
Details describing the greenfield project
Details describing the greenfield project
Investment particulars along with supporting proof
Investment particulars along with supporting proof
Incremental sales data, certified by a statutory auditor
Incremental sales data, certified by a statutory auditor
An auditor's certificate
An auditor's certificate
Financial statements
Financial statements
Any other supporting documents the department may require
Any other supporting documents the department may require
2020-07-21
How to Apply
Online Application
Applicants can apply for Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices through the online application process outlined below.
Application Process
Category-B applicants, who are eligible, must apply only through the online mode, via:
https:/plimedicaldevices.ifciltd.com/
Contact:
Click here
.
Offline Application
Applicants can apply for Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices through the offline application process outlined below.
The applicant must draw up the application with…
The applicant must draw up the application with all the necessary details.
The applicant must file the application inside the…
The applicant must file the application inside the 120-day application window.
The Project Management Agency appraises the application
The Project Management Agency appraises the application.
Eligible applications go before the Empowered Committee for…
Eligible applications go before the Empowered Committee for approval.
Approved applicants file claims for incentive disbursement
Approved applicants file claims for incentive disbursement.
The incentive is released once the claims are…
The incentive is released once the claims are verified.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.
