Home » Commerce and Industry » Medical Device Parks

Medical Device Parks

The Department implements the scheme “Promotion of Medical Devices Parks”, with a total financial outlay of Rs. 400 crore and the maximum assistance under the scheme for one Medical Device Park would be limited to Rs. 100 crore. The tenure of the scheme is from FY 2020-2021 to FY 2024-2025 and the selected Medical Device Park project will be implemented by a State Implementing Agency (SIA).  Under the scheme, Department of Pharmaceuticals has received proposals from 16 States/Union Territories.  The proposals were evaluated as per the criteria given in the scheme guidelines and final approval for financial assistance of Rs. 100 crore each has been given to the States of Uttar Pradesh, Tamil Nadu, Madhya Pradesh and Himachal Pradesh.  There is no proposal to establish more medical device parks in the Country, under the scheme.

Further, the Department has provided grant-in-aid to the project of the Superconducting Magnet Testing, Validation and Integration Centre at AMTZ, Andhra Pradesh under the scheme “Assistance to Medical Device Industry for Development of Common Facility Centres”.

The Government of India has taken several measures to encourage domestic manufacturing of Pharmaceutical drugs including bulk drugs and medical devices to reduce import dependence. The Programmatic interventions to support Pharma and Medical Devices Industries are as follows;

  1. The Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates (DIs) and Active Pharmaceutical Ingredients (APIs) in India, with a financial outlay of Rs. 6,940 crores and the tenure from FY 2020-2021 to FY 2029-30, provides for financial incentive for 41 identified products. A total of 51 applicants have been selected under the scheme.
  2. The Production Linked Incentive Scheme for Pharmaceuticals, with a financial outlay Rs. 15,000 crores and the tenure from FY 2020- 2021 to FY 2028-29, provides for financial incentive to 55 selected applicants for manufacturing of identified products under three categories for a period of six years, including five (5) industry applicants selected for In-vitro diagnostic medical devices.
  3. The Scheme for Promotion of Bulk Drug Parks, with a financial outlay of Rs. 3,000 crores and the tenure from FY 2020-2021 to FY 2024-25, provides for financial assistance to three States for establishing Bulk Drug Parks. The proposals received are under evaluation.
  4. The Department has launched the scheme of Strengthening of Pharmaceutical Industry (SPI), with a financial outlay of Rs. 500 crores and the tenure from FY 2021-2022 to FY 2025-26 and this scheme has three components, to provide infrastructure support for pharma MSMEs in clusters and to address the issues of technology upgradation of individual pharma MSMEs.
  5. Under the scheme “Promotion of Medical Devices Parks”, final approval for financial assistance of Rs. 100 crore each, has been given to the States of Uttar Pradesh, Tamil Nadu, Madhya Pradesh and Himachal Pradesh for establishment of common facilities in their Medical Device Parks.
  6. Further, under the sub-scheme “Assistance to Medical Device Industry for Common Facility Centre”, grant-in-aid of ₹ 25 crore was provided to Andhra Pradesh Medtech Zone Ltd. (AMTZ), Andhra Pradesh for establishment of Common Facility for Super conducting magnetic coil testing and research facility.
  7. The Production Linked Incentive (PLI) Scheme for Promoting Domestic Manufacturing of Medical Devices, with a financial outlay of Rs.3,420 Cr and with the tenure from FY 2020-21 to FY 2027-28, provides for financial incentives to selected companies at the rate of 5% of incremental sales of medical devices manufactured in India and covered under the four Target segments of the scheme, for a period of five (5) years.  A total of 21 Applicants have been selected under the scheme.

The non-schematic interventions are as follows:

  1. In order to attract investments in this sector, the Government has allowed 100% foreign direct investments (FDI) in medical devices sector. Similarly, the Government has allowed 100% FDI in pharma sector for greenfield projects under automatic route. For the brownfield projects, upto 74%, FDI investments are allowed under automatic route and beyond 74% to 100%, FDI investments are allowed under government approval route.
  2. To redress the specific challenges of the MedTech Industry, in view of the diversity and multi-disciplinary nature of the sector, the institutional mechanism of Standing Forum of Medical Devices Associations, has been set up to deliberate on various issues with all the stakeholders including regulators.

This information was given by Minister of State for Chemicals and Fertilizers, Shri Bhagwanth Khuba in a written reply in Lok Sabha

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR JUNE, 2024

The combined Index of Eight Core Industries (ICI) increased by 4.0per cent (provisional) in June, 2024 ...

DPIIT promotes green logistics industry balancing economic growth and environment

The Government recognizes the importance of sustainable logistics for India’s economic growth and environmental well-being. ...

EXPORT OF SEA FOOD

The current status of the export of seafood from the country is given below:-   ...

Combined Index of Eight Core Industries (ICI) increases by 5.2 per cent (provisional) in March, 2024 as compared to March, 2023

The combined Index of Eight Core Industries (ICI) increased by 5.2 per cent (provisional) in March, 2024 ...

Index Numbers of Wholesale Price in India for the Month of March, 2024 (Base Year: 2011-12)

The annual rate of inflation based on all India Wholesale Price Index (WPI) number is ...

Despite persistent global challenges, overall exports (merchandise + services) estimated to surpass last year’s highest record. It is estimated to reach USD 776.68 Billion in FY 2023-24 as compared to USD 776.40 Billion in FY 2022-23.

India’s overall exports (Merchandise and Services combined) in March 2024* is estimated to be USD ...

GeM crosses ₹ 4 Lakh Crore in GMV at the end of this Fiscal Year, doubles business in a year

Government e Marketplace has closed this financial year with ₹ 4 lakh crore in Gross ...

Combined Index of Eight Core Industries increases by 6.7% (provisional) in Feb 2024 as compared to Index of Feb 2023

The combined Index of Eight Core Industries (ICI) increased by 6.7per cent (provisional) in February 2024 ...

Highest monthly merchandise exports, in the current FY so far, recorded in February 2024. India’s merchandise exports in February 2024 stands at USD 41.40 Billion; an increase of 11.86% over USD 37.01 Billion in February 2023

India’s overall exports (Merchandise and Services combined) in February 2024* is estimated to be USD ...

Index Numbers of Wholesale Price in India for the Month of February, 2024 (Base Year: 2011-12)

The annual rate of inflation based on all India Wholesale Price Index (WPI) number is ...

WP2Social Auto Publish Powered By : XYZScripts.com