New Delhi, July 3 (TIWN): India's production-linked incentive (PLI) scheme will reduce India's dependence on imports for key active pharmaceutical ingredients (APIs) said India Ratings and Research (Ind-Ra).

Accordingly, the rating agency expects import dependency to reduce around 43 per cent in the medium term from around 70 per cent currently.  “The scheme will not only attract foreign investments, but also promote the development of complex and high-tech products, emerging therapies and in-vitro diagnostic devices in India.”