Centre approves National Medical Devices Policy; industry welcomes
The Union Cabinet approved the National Medical Devices Policy, 2023, which is expected to
facilitate an orderly growth of the medical device sector to meet the public health objectives of access, affordability, quality and innovation.
The Policy will help the sector grow from the present $11 billion to $50 billion by 2030, said Union Health Minister Mansukh Mandaviya.
He adds the government’s vision is to accelerate growth path with a patient-centric approach and to emerge as the global leader in the manufacturing and innovation of medical devices by achieving 10-12% share in the expanding global market over the next 25 years.
The medical devices industry has welcomed the new Policy. Sharing his reaction, Rajiv Nath, Managing Director, Hindustan Syringes & Medical Devices Ltd & Forum Coordinator, Association of Indian Medical Device Industry (AiMeD), said, “At AiMeD we are delighted with the Cabinet decision of announcing a medical devices policy to fulfil the Prime Minister Narendra Modi’s and India’s aspirations to be not only Atmanirbhar Bharat but also a global top 5 suppliers of medical devices worldwide. This was long-awaited direction we had sought since initial draft policy of June 2014.”
He adds, “The policy details will hopefully help traders and importers to start investing in putting up factories and end the 70-80% import dependency and the ever rising import bill – last year imports shot up by a steep 41% to over Rs. 63,000 crore.”
