Ministry: Ministry Of Chemicals And Fertilizers
Department: Department Of Pharmaceuticals
The objective of the Scheme is to provide financial incentive to boost domestic manufacturing and attract large investments in the Medical Device Sector.
> 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 & Imaging medical devices (both ionizing & non-ionizing radiation products) and Nuclear Imaging DevicesTarget Segment 3Anaesthetics & Cardio-Respiratory medical devices, including Catheters of Cardio Respiratory Category & 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>
✦ Required ◦ Optional
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.
