New Delhi: To boost India’s medical device sector, Union Minister of Chemicals & Fertilizers and Health & Family Welfare, Jagat Prakash Nadda, today unveiled the Scheme for Strengthening the Medical Device Industry. The scheme aims to make India a leading player in medical device manufacturing, aligned with the Aatmanirbhar Bharat mission to foster self-reliance. Union Minister of State Anupriya Patel and Department of Pharmaceuticals Secretary Arunish Chawla joined industry representatives and government officials at the launch event.
Comprehensive Support Across Five Key Areas
The scheme, with a total outlay of ₹500 crore, comprises five sub-schemes that address critical areas in the medical device industry: cluster facilities, reducing import dependence, skill development, support for clinical studies, and industry promotion. Union Minister JP Nadda emphasized the initiative’s transformative impact, calling it a “gamechanger” for India’s healthcare and manufacturing sectors.
“These interventions may appear small, but the outcomes are substantial,” said Nadda, stressing the government’s proactive approach under Prime Minister Narendra Modi’s leadership. He highlighted the importance of industry participation to maximize the scheme’s impact.
Anupriya Patel, Minister of State for Chemicals and Fertilizers, noted that medical devices have become an integral part of the healthcare industry, essential for diagnostics, surgery, and treatment. “The government is committed to supporting this growing sector through targeted policies and resources,” she stated.
Breaking Down the Sub-Schemes
- Common Facilities for Medical Device Clusters (₹110 crore): This sub-scheme supports the development of essential infrastructure, such as R&D labs, testing centers, and animal labs. Grants of up to ₹20 crore are available for creating these facilities, enhancing local manufacturers’ access to high-quality resources.
- Marginal Investment Scheme to Reduce Import Dependence (₹180 crore): Designed to deepen the domestic MedTech supply chain, this sub-scheme offers a capital subsidy of 10-20% (up to ₹10 crore per project) for companies manufacturing key components and raw materials. This initiative aims to reduce India’s reliance on imported parts, bolstering self-sufficiency.
- Capacity Building and Skill Development (₹100 crore): This sub-scheme supports workforce development, providing funding for Masters’ courses, short-term training, and diplomas. With up to ₹21 crore allocated for advanced degrees and ₹10,000-₹25,000 grants per candidate for short-term and diploma courses, it aims to cultivate a skilled MedTech workforce.
- Support for Clinical Studies (₹100 crore): Aimed at facilitating clinical validation, this sub-scheme provides financial aid for animal and human trials, clinical investigations, and performance evaluations. Grants range from ₹1 crore for in-vitro diagnostics to ₹5 crore for clinical studies, making it easier for Indian companies to bring products to market and meet international standards.
- Medical Device Promotion (₹10 crore): This final sub-scheme supports industry associations and export councils in promoting medical device activities, including organizing conferences, conducting market surveys, and facilitating networking opportunities for industry growth.
Future Prospects for India’s Medical Device Industry
India’s medical device market, currently valued at around $14 billion, is projected to reach $30 billion by 2030. Despite existing challenges, such as infrastructure limitations, this new scheme aims to unlock the sector’s potential by creating a supportive ecosystem for high-quality, cost-effective devices. As Indian manufacturers continue to innovate, the scheme is expected to accelerate India’s progress as a global manufacturing hub in healthcare technology.
Comments are closed.