The Prime Minister’s Office gathered a meeting on promoting Make in India in the Medical devices sector. Indian health ministry has assured an early action on the matters raised by Medical Devices Industry.
In the meeting the issues were expressed during a meeting convened by the Prime Minister’s Office (PMO). Confederation of Indian Industry, CII, Medical Device Manufacturers Association of India, FICCI and Association of Indian Medical Technology, who are office authorities of the top industry associations in medical devices industry, gave a presentation to the PM Office.
The raised issues were related to simplicity in doing business, regulation, fiscal imperatives, manufacturing, developing exports and supporting innovations to make India an attractive destination for medical device investment. It also said the government acknowledged the uniqueness of medical devices sector vis-a-vis pharmaceuticals. Health ministry said that the new bill would be tabled in the winter session of Parliament.
Federation of Indian Chambers of Commerce and Industry (FICCI) Medical Device Forum Chairman Probir Das, An attractive fiscal package coupled with the streamlining of rule will help attract global investment and Greenfield and brown field expansion in India.
The meeting was chaired by Principal Secretary to the PM and held in presence of senior officials from NITI Ayog. FICCI said the medical devices sector has a great potential for growth. Shackled in an unpredictable regulatory environment and expected to change very soon. It is also impeded by concerns around pharma style price control, which shall need a steady increase in public spend and awareness campaigns.
Rajiv Nath (AIMED Forum Coordinator) said, incentives issue is to attract overseas and domestic investors to build factories for not only import substitution but also for global market targeting was discussed in the meeting. Learn more on changing rules for drugs and medical devices in the Indian Healthcare for product safety and quality.
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