Centre launches Rs 500 crore scheme to strengthen India’s medical device industry
1 month, 2 weeks ago

Centre launches Rs 500 crore scheme to strengthen India’s medical device industry

New Indian Express  

NEW DELHI: To boost India’s medical device industry, the government on Friday launched a Rs 500 crore scheme aimed at strengthening key areas such as manufacturing, skill development, clinical studies, infrastructure, and industry promotion. Nadda, who also holds the portfolio of Union Chemicals and Fertilisers Minister, stated, “The comprehensive scheme, with an outlay of Rs 500 crore, aims to address critical areas of the sector, including manufacturing, skill development, clinical studies, infrastructure, and industry promotion.” He added that the scheme would significantly benefit the medical device industry and contribute to India’s self-reliance. Officials noted that India has started exporting a wide array of medical devices, including ventilators, PPEs, diagnostic kits, surgical gloves, coronary stents, radio-imaging equipment, and body implants. India is the fourth-largest medical devices market in Asia and ranks among the world’s top 20 medical devices markets.

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History of this topic

'India fourth largest medical devices market after Japan, China and South Korea': Union Minister Anupriya Patel
5 days, 1 hour ago

'India fourth largest medical devices market after Japan, China and South Korea': Union Minister Anupriya Patel

New Indian Express  

NEW DELHI: India is the fourth largest medical devices market in Asia after Japan, China, and South Korea and among the top 20 global medical devices markets in the world, said Union Minister of State of Health and Family Welfare Anupriya Patel on Thursday. Speaking at the 21st Health Summit of the Confederation of Indian Industry, she said the medical …

More M. Tech seats in medical engineering to be created; trade gap in medical devices to be wiped out in five years
4 weeks ago

More M. Tech seats in medical engineering to be created; trade gap in medical devices to be wiped out in five years

Live Mint  

New Delhi: The government will start M. Tech courses in medical engineering at leading institutions like IITs and NITs among measures aimed at creating a pool of skilled talent for testing and operating high-tech medical devices and reducing import dependence in this key sector. Other measures include scaling up the number of seats for this course in National Institutes for …

Government to offer USD 500 crore incentive to further localise smartphone production
1 month ago

Government to offer USD 500 crore incentive to further localise smartphone production

India TV News  

India is planning to offer significant financial incentives, up to USD 500 crore, to encourage companies to produce parts locally for a variety of electronic devices, including mobile phones and laptops. Over the past six years, India’s production of electronics has more than doubled, reaching approximately USD 11,500 crore in 2024. India has set an ambitious goal to increase its …

Govt unveils new schemes for meditech sector
1 month, 2 weeks ago

Govt unveils new schemes for meditech sector

Live Mint  

The government on Friday launched a scheme aimed at strengthening the medical devices industry with an initial outlay of ₹500 crore for three years 2024-2025 to 2026-27. It consists of five sub-schemes—common facilities for medical devices clusters with an outlay of ₹100 crore, marginal investment for reducing import dependence, capacity building and skill development for medical devices and medical device …

Union Budget 2024: AiMeD urges government for 15 per cent hike in custom duty on medical devices
5 months, 1 week ago

Union Budget 2024: AiMeD urges government for 15 per cent hike in custom duty on medical devices

India TV News  

Union Budget 2024: The Association of Indian Medical Device Industry has appealed to the government to consider a strategic increase in customs duty on medical devices, proposing a raise to a nominal range of around 15 per cent. Proposed health cess and margin capping for medical devices A significant concern flagged by AiMeD in the memorandum is the prevailing inverted …

Govt plans new pricing norms for medical device industry
7 months, 2 weeks ago

Govt plans new pricing norms for medical device industry

Live Mint  

The government is exploring new pricing strategies for the medical device industry and also looking at specific regulations to streamline the licensing, trading, and exporting processes for manufacturers, according to officials familiar with the situation. Medical device licences are currently categorized under the Drugs and Cosmetics Act, and industry associations have long advocated for specific regulations, arguing that the criteria …

India pharma industry to reach $130 billion by 2030
1 year ago

India pharma industry to reach $130 billion by 2030

The Hindu  

The Indian pharmaceutical industry is expected to reach $130 billion mark by 2030 said a top industry executive at the CPHI & PMEC India expo. This growth is propelled by expanding market opportunities, heightened demand in the USA, and critical shortages of medicines in the U.S. and Europe,” said Dr. Veeramani S.V., Chairman, Pharmaceuticals Export Promotion Council of India. Anil …

Education scheme for medical devices sector approved
1 year, 3 months ago

Education scheme for medical devices sector approved

Live Mint  

The government has approved a ₹480 crore scheme to develop a talent pool that will drive the medical devices industry. The three-year scheme will provide financial assistance to government institutions for running multiple courses on medical devices, upgrading such institutions to global standards. The move follows the recent announcement of the National Medical Device Policy, 2023, that will help the …

Mega schemes for pharma development, med-tech innovation and reducing dependency API import to be announced next month
1 year, 3 months ago

Mega schemes for pharma development, med-tech innovation and reducing dependency API import to be announced next month

The Hindu  

The Ministry of Chemicals and Fertilizers will soon announce a ₹5,000-crore research programme aimed at reducing India’s import dependency on Active Pharmaceutical Ingredients and promoting discovery of new drug molecules. “The policies aim to engage nine established pharmaceutical companies in impact research across six priority areas with prestigious government institutes. It also approved a new Scheme for Promotion of Research …

India to become global hub of medical technology devices by 2050: Mandaviya
1 year, 4 months ago

India to become global hub of medical technology devices by 2050: Mandaviya

Live Mint  

New Delhi: India is poised to become a global center for medical technology and devices, said health minister Mansukh Mandaviya on Thursday while addressing the curtain raiser to India MedTech Expo 2023. With effective implementation of the recently unveiled National Medical Devices Policy 2023, we are confident of fostering the medical devices sector growth from present $11 billion to $50 …

There can be no laxity with the quality of medicine: Health Minister
1 year, 6 months ago

There can be no laxity with the quality of medicine: Health Minister

The Hindu  

If India wants to continue being the pharmacy of the world there can be no laxity on the quality of pharmaceutical products, said Health Minister Mansukh Mandaviya speaking at the 8th international conference on the pharma and medical device sector on Friday. The Health Minister also unveiled the National Medical Devices Policy, 2023, and launched the Export Promotion Council for …

Explained | What is the National Medical Devices Policy, 2023?
1 year, 7 months ago

Explained | What is the National Medical Devices Policy, 2023?

The Hindu  

The story so far: On April 26, the Union Cabinet approved the National Medical Devices Policy, 2023. It is expected to help the domestic medical devices sector market grow from $11 billion to $50 billion by 2030 alongside achieving a 10-12% global market share over the next 25 years. To ensure a skilled workforce and create future ready MedTech human …

Indian medical devices sector to emerge as global leader in manufacturing, innovation in 25 years: Mandaviya
1 year, 7 months ago

Indian medical devices sector to emerge as global leader in manufacturing, innovation in 25 years: Mandaviya

The Hindu  

Backed by growing healthcare needs and the government's commitment to facilitate growth, the Indian medical devices industry has the power to emerge as the global leader in manufacturing and innovation in the next 25 years, Union Health Minister Mansukh Mandaviya said on May 16. He further stated that “backed by growing health care needs and the government's commitment to facilitate …

Explained | Why is Centre promoting ‘Medical Value Travel’? - a look at the billions-worthy industry & India’s growth
1 year, 7 months ago

Explained | Why is Centre promoting ‘Medical Value Travel’? - a look at the billions-worthy industry & India’s growth

The Hindu  

The story so far: India hosted the ‘One Earth One Health – Advantage Healthcare India – 2023’ programme in New Delhi on April 27 and 28, in a bid to promote India as a hub for medical tourism. With 500 foreign participants from over 70 countries, the two-day summit aimed to promote the export of medical services from India and …

Centre notifies National Medical Device Policy
1 year, 7 months ago

Centre notifies National Medical Device Policy

Live Mint  

New Delhi: The Union government on Thursday notified the National Medical Device Policy 2023, aiming to establish India as a global leader in manufacturing and innovation of medical devices by achieving a 10-12% share in the expanding global market over the next 25 years. The policy, detailed in a gazette notification issued on Thursday, outlines a regulatory mechanism, protocol for …

Centre approves National Medical Devices Policy | Know what it is
1 year, 7 months ago

Centre approves National Medical Devices Policy | Know what it is

India TV News  

National Medical Devices Policy: The Union government on Wednesday approved National Medical Devices Policy with an aim to increase domestic production and reduce imports of such equipment. Addressing the media after the Cabinet meeting, Union Health Minister Mansukh Mandaviya said it will promote domestic production of medical devices. Last year, the government had floated an approach paper on the draft …

Your medical device could be spying on you; industry demands protective laws
1 year, 8 months ago

Your medical device could be spying on you; industry demands protective laws

The Hindu  

Common medical devices such as oximeters, hearing aids, glucometers, and pacemakers can be turned into spyware and malware, say experts, warning that such devices can even leak your medical data if not layered with adequate cyber protection. Their warning comes close on the heels of the ransomware attacks suffered by India’s top tertiary care hospitals, leading to the siege of …

Medical devices industry distressed over Budget 2023 announcements
1 year, 10 months ago

Medical devices industry distressed over Budget 2023 announcements

The Hindu  

The Indian medical devices industry has expressed disappointment over what they believe is a tokenistic 2023-24 Budget announcement of plans for skilling human resources in the sector. The government has not announced any measures to help end the 80-85% import dependence forced upon India, and an ever-increasing import bill of over ₹63,200 crores,” said Rajiv Nath, Forum Coordinator, Association of …

Budget 2023: An Opportunity To Push India's Pharma Industry Development
1 year, 10 months ago

Budget 2023: An Opportunity To Push India's Pharma Industry Development

News 18  

The Union Budget 2023-24 will be presented on February 1 against the backdrop of a global recessionary fear. Several public sector schemes launched in the past few years, including the Pradhan Mantri Ayushman Bharat Health Infrastructure Mission, have focused on building last-mile infrastructure. Outlining the wishlist for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance Secretary General Sudarshan …

Union Budget 2023-24: Will Budget provide a booster dose for Indian pharmaceutical industry?
1 year, 10 months ago

Union Budget 2023-24: Will Budget provide a booster dose for Indian pharmaceutical industry?

Firstpost  

The Indian pharmaceuticals industry showed resilience, speed, and reliability in dealing with the COVID-19 pandemic challenges in India and provided much-needed aid to many other countries. With rising inflation in many countries and the recent surge in COVID-19 cases in China, the Indian pharmaceuticals industry is awaiting strong policy measures to provide further impetus to continue the ‘Make in India’ …

'Bid to sully India’s tag as pharmacy of the world'
2 years ago

'Bid to sully India’s tag as pharmacy of the world'

Live Mint  

There is an attempt to tarnish India’s reputation as the pharmacy of the world, and it is the government’s duty to safeguard India’s image, Union minister of health and family welfare, and chemical and fertilizer Dr Mansukh Mandaviya said, referring to the controversy around the death of 66 children in Gambia, allegedly after consuming Maiden Pharma’s cough syrup. During the …

India can and will lead in solving global problems
2 years, 1 month ago

India can and will lead in solving global problems

Hindustan Times  

At a meeting in Palo Alto, United States, with biotech leaders on October 14, Rajesh Gokhale, secretary of the department of biotechnology, discussed the advantages that India provided in medical research: A vast population with many needs, an abundance of scientific and technical talent, and the government’s willingness to remove obstacles to innovation. The opportunity for India is twofold: To …

India@75: Phenomenal journey of the pharma industry
2 years, 1 month ago

India@75: Phenomenal journey of the pharma industry

Hindustan Times  

The Indian pharmaceutical industry has come a long way since the country’s independence. Among private players, Khwaja Abdul Hamied had already set up one of India’s oldest pharma companies, Cipla in 1935; Indravan Modi set up Cadila pharmaceuticals in the early 1950s, Kallam Anji Reddy set up Dr Reddy’s Laboratories in Hyderabad and Bhai Parvinder Singh set up Ranbaxy in …

Govt Plans Booster Shot for Medical Devices Sector to Make India One of Top 5 Global Manufacturing Hubs
2 years, 9 months ago

Govt Plans Booster Shot for Medical Devices Sector to Make India One of Top 5 Global Manufacturing Hubs

News 18  

The Narendra Modi government plans a big boost for India’s medical devices sector, making its first move by releasing a draft policy exclusively for the industry, which until now has been kept under the policy to regulate pharmaceuticals. According to the approach paper on draft National Medical Devices Policy 2022, released by the department of pharmaceuticals that comes under the …

What’s behind India’s acute shortage of life-saving medical devices?
3 years, 6 months ago

What’s behind India’s acute shortage of life-saving medical devices?

Hindustan Times  

When the coronavirus pandemic first hit India in 2020, the import-dependent medical devices industry — a cornerstone of the country’s health sector — was already in a churn, scrambling to establish new sources of raw materials and supply lines. “During the second wave, in which there was a markedly higher demand for oxygen compared to the first wave, we simply …

Centre unveils PLI to encourage domestic manufacturing in 10 more sectors
4 years, 1 month ago

Centre unveils PLI to encourage domestic manufacturing in 10 more sectors

The Hindu  

The government on Wednesday unveiled a production-linked incentive scheme to encourage domestic manufacturing investments in ten more sectors, with an estimated outlay of about ₹1.46 lakh crore over the next five years. The ten sectors, which Finance Minister Nirmala Sitharaman said had been identified on the basis of their potential to create jobs and make India self-reliant, include food processing, …

Atmanirbhar Bharat: Govt approves ₹15,000 cr to pharma sector to boost local drug production
4 years, 1 month ago

Atmanirbhar Bharat: Govt approves ₹15,000 cr to pharma sector to boost local drug production

Live Mint  

The Cabinet on Wednesday announced production linked incentives for 10 sectors including auto, pharmaceuticals and textiles worth ₹2 lakh crore in a bid to boost manufacturing, make India self reliant and generate employment. Briefing reporters after a meeting of the Cabinet, Information and Broadcasting Minister Prakash Javadekar said production-linked incentives will be offered for sectors such as white goods manufacturing, …

Kerala medical devices park to make high-risk implants
4 years, 3 months ago

Kerala medical devices park to make high-risk implants

Deccan Chronicle  

Chennai: Kerala has managed to bag one of the four medical device parks proposed to be set up by the government. As part of the atma nirbharta policy of the Union government, these parks will provide a full range of services to the medical devices industry, including R&D support, testing and evaluation. It is a joint initiative of Sree Chitra …

Govt Has Taken Several Measures to Reduce Dependence on Import of Medical Devices: Gowda
4 years, 4 months ago

Govt Has Taken Several Measures to Reduce Dependence on Import of Medical Devices: Gowda

News 18  

The government has taken several measures to reduce the country's dependence on import of medical devices and for the development of domestic capacity in the sector, Minister of Chemicals and Fertilisers D V Sadananda Gowda said on Thursday. However, India is heavily dependent on imports in case of finished medical devices as well as for critical medical device components, Gowda …

Govt to Boost Drug and Medical Device Production to Lessen Reliance on Imports amid Tiff with China
4 years, 4 months ago

Govt to Boost Drug and Medical Device Production to Lessen Reliance on Imports amid Tiff with China

News 18  

The government on Monday released guidelines of four schemes for the development of bulk drug and medical device parks across the country to promote their domestic manufacturing. "In line with the vision of Prime Minister Narendra Modi, the schemes have been conceptualised for making India Atma Nirbhar in pharma sector," Union Minister of Chemicals and Fertilisers DV Sadananda Gowda said …

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