The Medical device sector in India suffers from huge cost, on account of adequate infrastructure, domestic supply chain and logistics, and high cost of finance. Thus, manufacturers need a huge amount of Investment to run their business. For Compensation to manufacturers of Medical Devices , the Government of India has come with a scheme called Production linked Scheme . This scheme aims to promote domestic manufacturers of Medical Devices.
The Scheme provides financial Incentive to boost domestic manufacturing and to attract large investments in the Medical Device Sector.
This Scheme intends to boost domestic manufacturing and it also attracts huge investment.
This scheme is applicable only for Greenfield Projects.
Goods manufactured in India and covered under the Target Segments.
Cancer care / Radiotherapy
Radiology, Imaging and Nuclear Imaging Devices
Anaesthetics, Cardio-Respiratory and Renal Care
Anaesthetics, Cardio-Respiratory and Renal Care
Only to companies engaged in manufacturing of goods covered under target segments in India.
It is subject to:
Thresholds of investment and
Incremental sales of manufactured goods over.
An Applicant meet all the thresholds conditions eligible for disbursement of incentive.
Applicants for the purpose of this Scheme are 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 will be carried out at one or more locations in India.
On the basis of the score obtained in the evaluation criteria as per the government guidelines.
In case two applicants have the same score, the selection is 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.
Applications submitted through an online portal. The Project Management Agency issues a unique number. Application ID to the applicant for all future references pertaining to the Scheme.
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.
Copy of Incorporation Certificate.
Copy of Audited Balance sheet and Profit and Loss Statement of Last 2 years.
Copy of PAN Card.
Copy of GST Details.
Copy of Article of Association.
Copy of Memorandum of Association.
Letter authorising the signing authority.
Copy of Shareholder Ownership in case of foreign Companies.
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