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Will The $3bn Stimulus Amid COVID-19 Place Indian Cos Among Goliaths?

INR 51bn Investments Committed Under First PLI Scheme

 
• By Vibha Ravi

Following an INR69bn incentive scheme for APIs, the Indian government has come up with an INR150bn scheme for formulations and more. Will this $3bn push prove to be the one that companies like Sun Pharma and Aurobindo, currently at 36 and 48 respectively in Scrip 100 rankings, need to break into the top league?

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Is This The Booster Indian Industry Has Been Looking For? • Source: Shutterstock

It’s not every day that a government rolls out a large fiscal stimulus, but supply disruptions due to COVID-19, the current government’s ‘Make In India’ push and a persistent realization of a dependence on China have prompted not one but two schemes by the Indian government with potential to boost India’s manufacturing capability.

After a profit-linked incentive (PLI) scheme introduced in 2020 for production of certain critical raw materials like penicillin G, the Indian government on 3 March this year notified an INR150 bn ($2bn) PLI scheme for makers of certain complex

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