New Delhi: The medical devices industry welcomed the government’s new Rs 500 crore scheme for the segment, saying it would accelerate growth, reduce import reliance and enhance India’s position as a leading exporter of medical devices.
The scheme that union health minister JP Nadda launched on Friday seeks to strengthen the medical devices industry. It marks a significant milestone for India’s medtech sector, fostering both growth and export potential, said Himanshu Baid, managing director of medical devices manufacturer and exporter Poly Medicure.
“Key initiatives such as the identification of common facilities for medical device clusters will encourage collaboration, innovation and cost efficiency,” he said. “Capacity building and skill development programmes are crucial to bridge talent gaps, ensuring high standards of manufacturing and clinical expertise.”
Rajiv Nath, the forum coordinator of industry association AiMeD, said the scheme will give impetus to manufacturing of medical devices. “The Indian medical devices manufacturers who had become traders and importers and shifted to pseudo manufacturing will now be again motivated to become actual manufacturers and produce complete products and their components in-house,” he said.
The scheme has been launched after comprehensive research, said Pavan Choudary, chairman of the Medical Technology Association of India (MTaI). “The efforts helped in identifying key areas where the industry needs support,” he said, adding that the scheme has its focus on five critical aspects: manufacturing of essential components and accessories, skill development, support for clinical studies, development of shared infrastructure, and industry promotion.
The medical devices industry stands to gain significantly from this inclusive scheme, which would benefit both startups and established companies and will leverage both local and global currents, Choudary said. “The industry promotion stimulus will pave the way for vitally important market research and marketing of the industry to the world.”
Anish Bafna, chief executive and managing director of Healthium Medtech and secretary of healthcare industry body Nathealth, said the scheme marked a major advancement toward boosting domestic manufacturing and reducing import reliance.
“With Rs 180 crore dedicated to the Marginal Investment Scheme, there is a significant push to develop a robust local supply chain, thereby lowering costs and spurring innovation. Additionally, Rs 100 crore for clinical study support will help companies generate critical evidence for regulatory compliance, facilitating market expansion. For the medical device industry, these initiatives provide a strong foundation to drive innovation, enhance self-reliance, and position India as a global leader in medical technology,” Bafna said.
The Medical Devices Clinical Studies Support Scheme is expected to boost the development of high-quality, globally competitive products, enhancing India’s presence in international markets.
