The Indian government realises the potential of India’s API industry and has recently given a thrust through the PLI scheme. The PLI scheme will add to India’s competitive advantage and reduce import dependence on key starting materials and APIs of Indian firms from Chinese manufacturers. The scope and quantum of PLI should be reviewed every year so that our manufacturing remains competitive. Overall, we expect more and more API manufacturers to avail this PLI benefit.
The domestic API industry in India is looking for the government to take measures to support the growth and development of the industry, as well as to improve the ease of doing business for manufacturers. We expect faster clearance of environmental applications from various government authorities for introducing new products and setting up green field projects. If these expectations are met, it would be a positive step for both the API manufacturers and the Indian healthcare system as a whole.
