11 Nov 2024 • The Indian government has launched a Rs. 500 crore scheme aimed at boosting the country’s medical device industry, with a focus on strengthening manufacturing, skill development, clinical studies, infrastructure, and industry promotion.

-Union Health Minister described the initiative as a ""game-changer"" for the sector, emphasizing its potential to enhance India’s self-reliance in medical device production. -The scheme, which will be implemented over three years, targets critical areas, including the creation of research and development labs, design and testing centers, and animal labs across 20 medical device clusters in India. -Rs. 110 crore has been allocated to support infrastructure development, with additional funds earmarked for a scheme to reduce India’s dependence on imports. -The government also aims to support the production of key components and raw materials with a capital subsidy, fostering a deeper value chain and encouraging innovation in the medical device sector.

Source: The New Indian Express Read full story