The Union Cabinet has approved the National Medical Devices Policy with an aim to increase domestic production and reduce imports of such equipment.
The National Medical Devices Policy 2023 is expected to facilitate an orderly growth of the medical device sector to meet the public health objectives of access, affordability, quality, and innovation, the government said.
It added that this sunrise sector is expected to realise its full potential, with strategies viz, “building an enabling ecosystem for manufacturing along with a focus on innovation, creating a robust and streamlined regulatory framework, providing support in training and capacity building programmes and promoting higher education to foster talent and skilled resources in line with the industry requirements.”
Further, encouraging domestic investments and production of medical devices complements the Government’s ‘Atmanirbhar Bharat’ and ‘Make in India’ programmes.
Briefing the media after the Cabinet meeting, Union Health Minister Mansukh Mandaviya said it will promote domestic production of medical devices. So far, six strategies have been planned to tap the potential of the medical devices sector with the Implementation Action Plan.
Last year, the government floated an approach paper on the draft national medical devices policy 2022 for consultation. The policy aims to help the medical devices sector grow from the present $11 billion to $50 billion in the next five years.
Notably, the government has already initiated the implementation of the PLI Scheme for medical devices and extended support for setting up of four medical device parks in Himachal Pradesh, Madhya Pradesh, Tamil Nadu, and Uttar Pradesh.
Under the Production Linked Incentive (PLI) scheme for medical devices, till now, a total of 26 projects have been approved with a committed investment of Rs 1,206 crore and out of this, so far, an investment of Rs 714 crore has been achieved.
(With PTI inputs)
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