Govt sets up Exports Promotion Council for Medical Devices, AIMeD welcomes the move

New Delhi: The Department of Commerce, Government of India has given its approval to set up Exports Promotion Council for Medical Devices (EPCMD).

The Council will be under the aegis of Department of Pharmaceuticals and will be headquartered in YEIDA, Greater Noida and with regional offices in Andhra Pradesh and Telangana.

The Yamuna Expressway Industrial Development Authority (YEIDA) will provide Rs 3 crore as an initial fund support for setting up of the Council, and free office space at the upcoming Medical Devices Park Common Facility Centre, Greater Noida, the government has decided.

The Engineering Export Promotion Council of India (EEPC) will provide assistance and guidance to the EPCMD for an initial period of five years.

India currently exports Rs. 23,766 crore (2021-22) of medical devices, up from previous year Rs.19,736 crore.

“It’s a great news, a big boost to the Indian Medical Devices Manufacturing. The long sought and requested Medical Devices Exports Promotion Council is finally sanctioned to be created under the aegis of DoP, Govt. of India. This strategic step will go a long way in accelerating the exports and manufacturing growth of the medical devices sector,” said Rajiv Nath, Forum Coordinator of Association of Indian Medical Device Industry (AiMeD).

Nath added: “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 Cr 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.”