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