Govt launches scheme for strengthening medical device industry

11th November, 2024 | By Vrushti Kothari

Targets critical areas of the medical device industry covering manufacturing of key components and accessories

To provide a big boost to the medical devices industry, the Union Minister of Chemicals & Fertilizers and Health & Family Welfare, Jagat Prakash Nadda, has launched the Scheme for Strengthening the Medical Device Industry. Anupriya Patel, Union Minister of State for Chemicals and Fertilizers and Health & Family Welfare and Arunish Chawla, Secretary, Department of Pharmaceuticals along with officials of the department and representatives of industry were also present on the occasion.

The scheme is a comprehensive one which targets critical areas of the medical device industry, covering manufacturing of key components and accessories, skill development, support for clinical studies, development of common infrastructure and industry promotion.

The new scheme has a total outlay of Rs 500 crore. It consists of five sub-schemes which are as follows- Common Facilities for Medical Devices Clusters (Rs 110 crore); Marginal Investment Scheme for Reducing Import Dependence (Rs 180 crore); Capacity Building and Skill Development for Medical Devices (Rs 100 crore); Medical Device Clinical Studies Support Scheme (Rs 100 crore); and Medical Device Promotion Scheme (Rs 10 crore).

Union Minister for Chemicals and Fertilizers appealed to the industry to make good use of the scheme and assured the industry of all help from the government stating that the Department is there to provide all support.

Pavan Choudary, Chairman, Medical Technology Association of India (MTaI) said, "The scheme, launched after comprehensive research that included two groundbreaking stackathons, serves as a fine example of an evidence-based stimulation package. The efforts helped in identifying key areas where the industry needs support. This is where the scheme derives its focus on five critical aspects: manufacturing of essential components and accessories, skill development, support for clinical studies, development of shared infrastructure, and industry promotion."