Siemens Healthineers has set up a new production line of Computed Tomography (CT) scanners in Bengaluru under the Government of India’s Production Linked Incentive (PLI) scheme to expand its manufacturing footprint in India. Siemens Healthineers new medical device Bengaluru factory is approved under the Radiology and Imaging Medical devices segment of the PLI scheme.
Siemens Healthcare Private Limited is one of the approved applicants for the PLI scheme with a committed investment of Rs 91.9 Crores, for the manufacture of CT and Magnetic Resonance (MR) Imaging. Siemens Healthineers announced the expansion of its manufacturing facility in India to accelerate the growth of medical devices in the country.
The Department of Pharmaceuticals (DoP) launched the PLI scheme for medical devices to boost domestic manufacturing, and attract large investment in the Medical Device sector. The DoP notified the PLI scheme for the medical device sector through a gazette notification dated July 21, 2020. Total financial outlay for the PLI scheme is Rs. 3,420 crore.
“The investor-friendly initiatives of the Government of India will give a fillip to the Indian Medical Device industry and the healthcare sector at large. Commencing operations of the new CT scanners production line is our first step in culminating the vision into a reality. It will go a long way in our quest of improving access to high-quality healthcare for all,” said Vivek Kanade, Managing Director, Siemens Healthcare Private Limited.
Augmented by the investor-friendly initiatives of the Government of India (GoI), the PLI scheme has provided the necessary impetus to India’s vision of becoming a global manufacturing hub for medical devices.