<span style="color: #222222;">Chemicals and Fertilizers Ministry has accorded approval for Promotion of Domestic Manufacturing of critical Key Starting Materials, Drug Intermediates and Active Pharmaceutical Ingredients under Production Linked Incentive Scheme. </span><br />'' <br />'' <span style="color: #222222;">Earlier the Union Cabinet had approved Production Linked Incentive Scheme for Pharmaceuticals over a period of Financial Year 2020-21 to 2028-29. The Scheme will benefit domestic manufacturers, help in creating employment and is expected to contribute to the availability of a wider range of affordable medicines for consumers. </span><br />'' <br />'' <span style="color: #222222;">The Indian pharmaceutical industry is the 3rd largest in the world by volume. It has high market presence in several advanced economies such as the US and European Union.</span><br />''