The previous blog on Make-in-India set an understanding for our readers about how the Indian medical devices market is growing, how the Indian government is supporting innovation, and how the industry partners are coming together to meet a common goal of Aatmanirbhar Bharat.
This blog focuses on various schemes launched by the Indian government to boost domestic manufacturing and promote the growth of Medtech industry.
Production-linked Incentive Scheme
- Promotes domestic manufacturing
- Attracts investors
- Supports greenfield projects (new production plant in existing facility or launch of new facility)
- 5% incremental incentives offered for 5 years (FY 21-22 to FY 25-26)
- Targeted segments of medical devices get benefited under this scheme (Category A & Category B)
Twenty-seven big players have taken advantage of this scheme as of April 2023. Are you one of them?
Medical Device Parks
- Provides common infrastructure facility
- Reduces production cost of devices
- Supports better accessibility and affordability of devices
- Grant approved for four new parks
- 100cr allotted for each park budgeting to a total of 400cr for this scheme
- Department of Pharmaceuticals approved the development of parks for: Madhya Pradesh, Tamil Nadu, Himachal Pradesh, Uttar Pradesh
National Medical Device Policy 2023
- Released in-line with the schemes above to support Make-in-India initiative
- Focuses on creating ecosystem for production and innovation, harmonization of regulations, training of resources
- Creates awareness across the globe about domestic manufacturing
- Enhances focus on research, investments, and skilled taskforce
- Promotes designated Export Promotion Council for medical devices
Exports Promotion Council (EPC-MD)
- Enables communication of market access issues
- Unlocks India’s capacity to collaborate with global-level stakeholders
- Enables opportunities for international trade fairs and networking
Scheme for Assistance to Medical Device Clusters for Common Facilities (AMD-CF)
- Provides financial assistance to existing and new medical device clusters
- Promotes testing facilities (TF) at state/central levels, institutions and organizations
- Promotes common infrastructure (CF) facilities in medical device clusters
Grant of ₹25 crore allotted to Andhra Pradesh Medtech Zone (AMTZ) for developing research and magnetic coil testing facilities
Our opportunistic team at Alceon Medtech Consulting takes great pride in all the developments happening for Make-in-India campaign. As the Indian regulatory framework is still evolving, our team of experts can help you decode the requirements for your compliance-related goals.
Alceon Medtech Consulting offers a wide range of personalized and customized services ranging from gap analysis, preparation of regulatory dossiers, implementation of quality systems, and instructor-led trainings.
Visit our website, alceonconsulting.com, for learning about our services. We can be reached at contact@alceonconsulting.com for service inquiries.
