AiMeD applauds govt’s latest MedTech policy decisions

New Delhi: Minister of Health and Family Welfare Mansukh Mandaviya on May 26, 2023 launched the National Medical Device Policy 2023 at an annual conference on Indian pharmaceuticals and medical devices in Delhi.

The Cabinet approved the National Medical Device Policy 2023 on April 26, but the policy and its official strategy document were officially released and unveiled by Mansukh Mandaviya.

Minister also launched the Export Promotion Council for Medical Devices and the Scheme for Assistance to Medical Devices Clusters for Common Facilities (AMD-CF) and released six reports on pharmaceuticals and medical devices.

Applauding the move, Rajiv Nath, Forum Coordinator of Association of Indian Medical Device Industry (AiMeD) stated: “We congratulate the Government wholeheartedly for launching the much-needed, long awaited ‘National Medical Devices Policy’ to make an Atmanirbhar Bharat that not only helps its own citizens but makes affordable high quality and safe medical devices accessible to the world and place India among global top 5 suppliers of Medical Devices worldwide.”

“The Exports Promotion Council for Medical Devices will help bring in coordinated inter-ministerial policy measures for unleashing the huge export potential and investment potential of over Rs. 80,000 Crore for manufacturing medical devices for the Global market in India’s quest to be one of Top 5 preferred supplier base of medical devices worldwide and we are thankful to the Minister of Commerce and Industry in taking this initiative to help realize our Prime Minister’s vision” Nath added further.

Applauding the Health Minister for launching the Assistance to Medical Devices Clusters, he said “It’s a great start! This is in line with the 4th Strategic Component of Building Infrastructure as defined in National Medical Devices 2023 Policy. This hopefully will be availed in many states to make an Atmanirbhar Bharat.”

 “Medical Device Policy is a progressive step in propelling the country towards Atmanirbharta in the heavily import dependent Medical Device Sector. This will also fuel manufacturing in India and will help realize the goal of the medical device industry reaching $50 Billion in the country by 2025.”

“We are more than hopeful that the policy & schemes will help boost local manufacturing, help traders and importers to start investing in putting up factories and end the 70-80% import dependency forced upon India and the ever-rising import bill which last year shot up by a steep 41% to over Rs. 63,000 Crore and make quality healthcare accessible and affordable for common masses worldwide,” Nath concluded.