New Delhi || 09-11-2024 The Union Minister of Chemicals & Fertilizers and Health & Family Welfare, Jagat Prakash Nadda, launched the Scheme for Strengthening the Medical Device Industry on 8 N0v 2024.
Anupriya Patel, Minister of State for Chemicals and Fertilizers and Health & Family Welfare and Arunish Chawla, Secretary, Department of Pharmaceuticals along with officials of the department and representatives of industry were also present on the occasion.
The scheme is a comprehensive scheme which targets critical areas of the medical device industry, covering manufacturing of key components and accessories, skill development, support for clinical studies, development of common infrastructure and industry promotion.
Addressing the gathering Union Minister JP Nadda said that this scheme is going to be a gamechanger and it will not only help the industry but will also be a long leap in making India self-reliant. He also said “these interventions may look small but the outcomes are big, the government led by Prime Minister Narendra Modi is a government of action and the PLI scheme itself is something which has opened new paths.
The minister said that “ it is just a start” and congratulated the department of Pharmaceuticals for the initiatives and sought Industry’s support for the success of the scheme.
Speaking on the occasion, Minister of State for Chemicals and Fertilizers Anupriya Patel said that this scheme will provide a boost to the entire sector of Medical Devices.
She further said that “Medical Device has become an important pillar of the healthcare industry and we find them in everyday life and everybody is aware of its significance as its demand is continuously rising. The Government is also designing the policies and schematic support to promote this industry”.
The new scheme has a total outlay of 500 Crores. Medical device industry is an essential pillar of healthcare delivery. From diagnostic machines to surgical instruments, and from stents to prosthetics, medical devices are critical for the prevention, diagnosis, and treatment of diseases. India’s medical device market is valued at approximately $14 billion and is expected to grow to $30 billion by 2030.
