IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

Yes

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 01 Apr 2020 | Removal date: 31 Mar 2025

Production subsidy

A Production Linked Incentive (PLI) scheme has been announced to incentivize domestic manufacturing of medical devices. The Scheme has a corpus of INR 3420 crore (~USD 453 million) and will provide an incentive of 5% on incremental sales of medical devices identified under the Scheme (with the base year 2019-20). The scheme will provide incentives to 25-30 manufactures manufacturing medical devices including -

  • Cancer care/Radiotherapy medical devices
  • Radiology & Imaging medical devices (both ionizing & non-ionizing radiation products) and Nuclear Imaging Devices
  • Anesthetics & Cardio-Respiratory medical devices including Catheters of Cardio-Respiratory Category & Renal Care Medical Devices
  • All Implants including implantable electronic devices like Cochlear Implants and Pacemakers

The scheme will be valid for the period 2020-21 to 2024-25.  The Indian fiscal year begins on 1 April of the year and the scheme will be applicable from 1 April 2020.

* INR to USD conversion as on 21 March 2020 - INR 75.42 / USD

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

481 Medical & surgical equipment & orthopaedic appliances

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