Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices

• Financial Incentive: 5% incentive on incremental sales of manufactured goods over the base year (FY 2019-20).

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> General Eligibility:

• The applicant must be a company registered in India.
• The applicant may also be registered as a Limited Liability Partnership (LLP).
• The applicant must be engaged in manufacturing of medical devices covered under target segments.
• The applicant must establish a greenfield project in India.
• The applicant must meet the threshold investment and incremental sales criteria.
• The applicant must fulfill all conditions specified for disbursement of incentives.

> Threshold Conditions:

• The applicant must achieve minimum cumulative investment of ₹1,80,00,00,000 over 3 years.
• The applicant must achieve incremental sales as specified for each year.

> Additional Conditions:

• The applicant must submit a complete application within the application window of 120 days.
• The applicant’s eligibility under this scheme does not affect eligibility under other schemes.

> Target Segments of Medical Devices Eligible under the Scheme:

Target Segment No. Description of Medical Devices covered under the Target SegmentTarget Segment 1Cancer care/Radiotherapy medical devicesTarget Segment 2Radiology &amp;amp;amp;amp; Imaging medical devices (both ionizing &amp;amp;amp;amp; non-ionizing radiation products) and Nuclear Imaging DevicesTarget Segment 3Anaesthetics &amp;amp;amp;amp; Cardio-Respiratory medical devices, including Catheters of Cardio Respiratory Category &amp;amp;amp;amp; Renal Care Medical DevicesTarget Segment 4All Implants including implantable electronic devices like Cochlear Implants and Pacemakers> Note:

• A key component that constitutes a major part of a finished medical device (such as Rotating Anode Tube, Stationary Anode Tube, MRI Magnet, Flat Panel Detector, and similar components), and has a distinct HS code for itself, will be considered as included in the corresponding target segment.

> Eligibility Threshold Criteria:

SegmentIncentive Rate (on Incremental Sales of Manufactured Goods)Threshold Minimum InvestmentThreshold Minimum Incremental Sales of Manufactured GoodsAll four segments of medical devices (detailed in Annexure A)Year 1: 5%; Year 2: 5%; Year 3: 5%; Year 4: 5%; Year 5: 5%INR 180 Crore over 3 Years; Cumulative Minimum (Crore): Year 1: 60; Year 2: 120; Year 3: 180Year 1: INR 120 Crore; Year 2: INR 240 Crore; Year 3: INR 360 Crore; Year 4: INR 460 Crore; Year 5: INR 560 Crore<br>

• The eligible applicants (Category-B applicants) may apply through online mode only. The link is: https:/plimedicaldevices.ifciltd.com/

> Contact: Click here.

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Step 1: The applicant must prepare the application with all required details.

Step 2: The applicant must submit the application within 120 days of the application window.

Step 3: The application is appraised by the Project Management Agency.

Step 4: Eligible applications are considered by the Empowered Committee for approval.

Step 5: Approved applicants submit claims for incentive disbursement.

Step 6: The incentive is released after verification of claims.

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