Govt gives green chit for 4 medical device parks
November 11, 2019
Keeping in mind the twin objectives of supporting the Make in India initiative and providing world-class products at affordable price for treatment, the government has given the go ahead to set up 4 medical device parks in the country. The states of Andhra Pradesh, Telangana, Tamil Nadu and Kerala have been zeroed on for this purpose. This will facilitate the creation of necessary infrastructure, where companies can easily plug and play; cut India’s import bill; and help in easy access to standard testing facilities.
India is predominantly an importer of medical devices, with the domestic industry accounting for about 2% of the global industry, which stands at US$ 250 billion, as per the estimates.