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Rs. 3,088 crore worth of IEMs implemented in the first nine months ended September 2021: DPIIT data
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Gireesh Babu, New Delhi
November 22 , 2021
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The drugs and pharmaceuticals industry in the country has implemented Industrial Entrepreneurs Memoranda (IEMs) worth Rs. 3,088 crore in 23 projects in the sector during the first nine months of the year 2021. The industry has signed 60 IEMs worth Rs 8765 crore to be invested into the sector during the same period.
According to the statistics published by the Department for Promotion of Industry and Internal Trade (DPIIT), the sector has seen implementation of 39 projects from the IEMs, with an investment of Rs. 5,599 crore during the 12 months of 2020.
In 2019, it has witnessed implementation of 36 projects with an investment of Rs. 4,854 crore, based on the commitments it has made as part of the IEMs. The data is collected based on Part B of the IEM form filed by the entrepreneurs, said the Department.
In Medical and surgical instruments manufacturing, in the first nine months of 2021, the investments increased to two projects implemented, worth Rs. 213 crore, while in 2020, there was only one project with an investment of Rs. 13 crore, implemented.
During 2019, the sector witnessed one project getting implemented, but with an investment made of Rs. 1,313 crore.
The DPIIT data shows that there are 60 investment proposals signed by the industry between January and September, 2021, to invest around Rs. 8,765 crore into the drugs and pharmaceuticals sector in the country. This, compared to 77 IEMs worth Rs. 7,376 crore in the 12 months of 2020, is 18.83 per cent higher.
The investment proposals in terms of value, for the nine months account to 2.16 per cent of the total investment proposals worth Rs. 4,06,135 crore across sectors, which is also highest from the sector compared to the last two years.
The first nine months of 2021 has seen investment proposals from the industry surpassing the investment intentions filed in the two consecutive years from 2019. The 12 months in 2019 has seen 87 IEMs from the drugs and pharmaceutical industry, with intentions to invest Rs. 5.195 crore.
The medical and surgical instruments industry has filed 60 IEMs till September, 2021, with intentions to invest around Rs. 587 crore into the sector. This is 25 per cent higher compared to the Rs. 467 crore investment intentions filed in nine IEMs in 12 months of 2020. This is also the highest growth in investment proposals compared to the previous two years.
In the year 2019, the sector witnessed only three IEMs proposing a total of Rs. 167 crore investments in the country.
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