Government Releases ₹266.64 Crore for Medical Device PLI Scheme FY 2024-25

New Delhi, July 24 – The Union Government announced the allocation of ₹266.64 crore under the Production Linked Incentive (PLI) scheme for medical‑device manufacturing for the financial year 2024‑25. In the same statement, an additional ₹209.80 crore was released for the Medical Device Park programme.

Union Minister of Chemicals and Fertilizers JP Nadda disclosed the figures during a Lok Sabha session, adding that out of the park funds, ₹177.98 crore has already been spent.

Under the Strengthening Medical Devices Industry (SMDI) initiative, projects worth ₹101.50 crore received approval through the Marginal Investment Scheme – R&D (MIS‑RID) to cut import reliance. Another ₹88.67 crore was cleared for shared‑facility projects (CFMDC) that will serve medical‑device clusters, with ₹20.62 crore already disbursed.

The minister highlighted that the government has rolled out multiple schemes to boost indigenous production of high‑precision equipment, aiming to reduce dependence on imports and raise domestic capacity.

The total outlay for the Medical Device PLI scheme stands at ₹3,420 crore. Incentives are offered across four target categories – cancer care and radiotherapy, radiology and imaging, anesthetics, cardio‑respiratory‑renal care devices, and implants.

So far, 27 applications have been approved, 14 of which belong to MSMEs. The approved projects have collectively invested ₹1,153.07 crore, leading to the domestic manufacture of MRI and CT scanners, linear accelerators (LINAC), mammography systems, C‑Arm machines, ultrasound units, heart valves and stents.

The Medical Device Park programme carries a total budget of ₹300 crore, providing financial assistance of up to ₹100 crore per park for shared infrastructure such as testing labs, sterilisation units, warehouses, incubation centres and prototyping facilities. Development work is underway in three locations – Noida (U.P.), Ujjain (M.P.) and Kanchipuram (T.N.).