Empowering Innovation: Venus Remedies Receives Incentive under Government's PLI Scheme
In a testament to its commitment to innovation and growth, Venus Remedies Limited proudly announces its successful acquisition of an incentive under the Government of India's Production Linked Incentive (PLI) scheme. The company has secured a substantial incentive amounting to ₹7.5 crore, representing 75% of the total incentive for the fiscal year 2022-23.
The PLI scheme, introduced by the central government as part of the Atmanirbhar Bharat initiative, aims to promote investment, boost production, and enhance competitiveness across various sectors, including pharmaceuticals. With a total outlay of Rs 15,000 crore and a duration spanning from 2020-2021 to 2028-29, the scheme signifies a pivotal step towards fostering self-reliance and driving economic growth.
Venus Remedies Limited's participation in the PLI scheme underscores its dedication to driving innovation and excellence in the pharmaceutical industry. As one of the select pharmaceutical firms in India chosen for the PLI Scheme, Venus Remedies is poised to leverage this incentive to bolster its existing capacities and contribute to the nation's journey towards self-sufficiency.
With over Rs 1.03 lakh crore in investments registered till November 2023, the PLI scheme has garnered significant traction, reflecting its success in stimulating growth and competitiveness. Venus Remedies Limited's approval under PLI 2.0 further reinforces its position as a key player in the pharmaceutical landscape, poised to drive innovation and create lasting impact.
As Venus Remedies continues to expand its operations and invest in cutting-edge technology, the company remains committed to advancing healthcare and contributing to the nation's prosperity. This achievement marks a significant milestone in Venus Remedies' journey towards empowering innovation and shaping the future of the pharmaceutical industry.
Stay tuned to The Venus Times for more updates on Venus Remedies' pioneering initiatives and contributions to the healthcare sector.
