India’s medical device industry could become a global leader in manufacturing and innovation within 25 years: Dr. Mandaviya of ET HealthWorld

India's medical device industry could become a global leader in manufacturing and innovation within 25 years: Dr. Mandaviya of ET HealthWorld

Tokyo: Dr. Mansk Mandaviyafederal minister Health and family well-beingIn an exchange with representatives of Japanese medical device companyin a lecture in Tokyo, emphasized how the medical device sector is an important and integral component. Indiahealth care sector. He emphasized that the contribution of this sector is more prominent. India Helped fight the COVID-19 pandemic nationally and globally through the large-scale production of medical devices and diagnostic kits.

Doctor Mandaviya “The medical device sector could quadruple by 2030 from its current size of $11 billion. It has the power to emerge as a world leader.” Over the next 25 years, grow in the field of manufacturing and innovation, become self-reliant and contribute to the goal of universal healthcare in line with India’s G20 Presidency mantra of ‘One Planet, One Family, One Future’. For that reason, we will do our utmost to grow and progress.

“In order to attract investors from all over the world, India allows 100 per cent FDI under automatic route for both greenfield and brownfield setups,” the Union Minister stressed. To encourage domestic manufacturing, the government has launched a production-linked incentive scheme that provides financial incentives worth $400 million for medical devices. To support the investor community, the government also approved the establishment of her four medical device parks in the state. These parks significantly reduce manufacturing costs, optimize resources, build economies of scale, and provide easy access to standard inspection and infrastructure facilities. Dr. Mandaviya said it is to promote the orderly growth of the medical device sector and achieve public health goals. With access, affordability, quality and innovation, India recently received its first approval. National medical device policy. “We have developed six strategies to harness the potential of this sector and strengthen the industry into a competitive, self-sustaining, resilient and innovative industry that serves the healthcare needs of India and the world. In addition to the Medical Device Policy, we are also proposing a National Policy on R&D and Innovation in the Pharmaceutical and Medical Technology Sector of India to enable strong collaboration and translational research. ” he said. The Union Health Minister concluded: India is currently on an important journey to challenge the world stage in the field of medical devices and technology. He invited Japanese medical device companies to take advantage of ‘Make in India’, ‘Innovate in India’ and ‘Discover in India’.

Co-Secretary of Health Vishal Chohan. and other federal officials also attended the meeting.

  • Published May 16, 2023 at 4:46 PM IST

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