AiMED applauds Govt’s decision to make Export Promotion Council for Medical Devices functional
The Association of Indian Medical Device Industry (AiMED) applauds the Government of India’s landmark decision to make the Export Promotion Council for Medical Devices (EPCMD) functional, with members being onboarded, a long-standing demand of the industry that has now become a reality.
“AiMED expresses its deep gratitude to the Union Minister of Commerce & Industry, Piyush Goyal, and extends special thanks to the Department of Commerce, Department of Pharmaceuticals (DoP), YEIDA, and EEPC India for recognising the immense potential of India’s medical devices sector and taking this visionary step in supporting the creation and functioning of the EPCMD,” said a statement issued by AiMED, the umbrella association of Indian manufacturers of medical devices.
Calling the announcement a “historic and proud moment,” Rajiv Nath, Forum Coordinator of AiMED, stated: “The formation of this dedicated council will act as a catalyst in transforming India into a global hub for medical device innovation, manufacturing, and exports and is expected to be the next biggest success story after IT & Pharma. AiMeD looks forward to working closely with EPCMD to ensure this opportunity brings real growth, employment, and improved global health outcomes as well as work to diligently increase our exports so that they overtake our imports.”
Commenting on the role and benefits of EPCMD, Praveen Mittal, Executive Director, EPCMD, stated: “With the establishment of EPCMD, India now has a focused institutional mechanism to drive exports and boost domestic manufacturing. This initiative will play a vital role in helping India reach a USD 30 billion market size by 2030. Our mission is to take India-made, high-quality medical devices to global markets, enhance India’s competitiveness, and contribute to improved global health standards.”
AiMED reiterates its full support for this move and celebrates the government’s commitment to nurturing innovation, promoting exports, and building a globally competitive medical devices industry.
“As a fledgling organisation, that got manned recently, EPCMD has already delivered a couple of boundaries, strengthening the make-in-India initiative by assisting in seeking easier market access, guiding Dept of Commerce in ongoing negotiating of trade agreements and communication of policy support needs of exporters,” stated Jatin Mahajan, MD, Mitra Industries & Secretary of Association of Diagnostic Manufacturers of India.
The Medical Devices exports are currently at over Rs. 31,672 Cr (US$3.7 Billion) with a growth of 14% over the previous year. The top 5 Countries India currently exports medical devices are to USA, Germany, China, Netherlands and Brazil.
