Approval accorded under PLI Scheme for Promotion of Domestic Manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs).
Indian pharmaceutical industry:
It is the 3rd largest in the world by volume. It has high market presence in several advanced economies such as the US and EU. The industry is well known for its production of affordable medicines, particularly in the generics space.
However the country is significantly dependent on the import of basic raw materials, viz., Bulk Drugs that are used to produce medicines.