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PLI - Production Linked Incentive Scheme for Medical Device Manufacturers




Production Linked Incentive Scheme

The Medical device sector in India suffers from huge cost, on account of adequate infrastructure, domestic supply chain and logistics, high cost of finance. Thus, manufacturers need a huge amount of Investment to run their business. For Compensate to manufacturers of Medical Devices , the Government of India has came with scheme called Production linked Scheme . This scheme aim is to promote domestic manufacturers of Medical Device.

The Scheme provide financial Incentive to boost domestic manufacturing and to attract large investments in Medical Device Sector.

What are Objective of PLI Scheme ?

This Scheme intends top boost domestic manufacturing and it also attract huge investment.

What are the Applicability of this Scheme?

  • This scheme is applicable only for Greenfield Projects.

  • Goods manufactured in India and covered under the Target Segments .

Target Segment under Production Linked Scheme are as :

Medical Device Segment Category.

Cancer care / Radiotherapy 

 

Radiology, Imaging and Nuclear Imaging Devices

Anaesthetics, Cardio-Respiratory and Renal Care 

Anaesthetics, Cardio-Respiratory and Renal Care 

What are the Eligibility for Incentive ?

  1. Only to companies engaged in manufacturing of goods covered under target segments in India.

  2. It is subject to:

    1. thresholds of investment and

    2. Incremental sales of manufactured goods over.

  3. An Applicant meet all the thresholds conditions eligible for disbursement of incentive

Who can Apply for PLI?
Applicant for the purpose of this Scheme be any Company registered in India, proposing to manufacture goods under target segment and making an application for seeking approval under the Scheme. The applicant shall make threshold investment in any Greenfield Project. The aforesaid manufacturing be carried out at one or more locations in India.

Eligibility Criteria:

 

Segment

 

Incentive Rate

 

Threshold Minimum Investment

 

Threshold Minimum Incremental Sales of Manufactured Goods

 

All Four Segments of Medical Devices

Year1 -5 %

Year 2-5 %

Year 3 -5 %

Year 4-5 %

Year 5- 5 %

INR 180 Crore over 3 years

Year 1 INR 120 Crore

Year 2 INR 240 Crore

Year 3 INR 360 Crore

Year 4 INR 460 Crore

Year 5 INR 560 Crore

How the Selection is done for PLI?

  • On the basis of the score obtained in the evaluation criteria as per the government guidelines.

  • In case of two applicants have same score, the selection made on the basis of score against the parameter prescribed as per government guidelines .

  • A maximum of 28 applicants selected under the scheme.

  • A maximum of 10 applicants selected under each target segment .

How do the Application Filed for PLI?

An Applications submitted through an online portal. Project Management Agency issue a unique number. Application ID to the applicant for all future references pertaining to the Scheme.

Project Management Agency

The Financial institution(s) or any other authority appointed to act on its behalf for receipt and appraisal of applications, verification of eligibility and examination of disbursement claims through any method / document deemed appropriate and for managing the above-mentioned in accordance with these guidelines.

What are the documents required for PLI scheme ?

1 Copy of Incorporation Certificate

2 Copy of Audited Balance sheet and Profit and Loss Statement of Last 2 years.

3 Copy of PAN Card

4 Copy of GST Details

5 Copy of Article of Association

6 Copy of Memorandum of Association

7 Letter authorizing the signing authority

8 Copy of Shareholder Ownership in case of foreign Companies .

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