Haryana signs agreement with AiMED on investment worth Rs 5000 Cr in medtech sector

The MoU was signed between the CM of Haryana Mr Manohar Lal Khattar and Mr Rajiv Nath, Forum Coordinator, AiMeD to enable ease of doing business, to attract investment for Haryana Medical devices industry and convert state into a medical devices manufacturing hub

The MoU was signed between CM of Haryana, Mr Manohar Lal Khattar and Mr Rajiv Nath, Forum Coordinator, AiMeD to enable Ease of Doing Business, to attract Investment for Haryana Medical Devices Industry and convert Haryana into a Medical Devices Manufacturing Hub.

Gurugram (Gurgaon): The state government of Haryana and Association of Indian Medical Device Industry (AiMeD) have signed a MoU for driving Rs 5000 Cr of investment into Haryana’s medical devices manufacturing industry as import substitution considering India’s current import dependency of over 70 percent of imports worth over Rs 25,000 Crore that India is saddled with. Target year of completion of goal has been kept at 2020.

The press release issued by AiMED said that Haryana government will extend benefits under the Haryana Industrial Enterprise Promotion Policy Year 2015 to AiMeD. It will facilitate Members of AiMeD to obtain necessary permissions, registrations, approvals, clearances etc., from its concerned departments under the Haryana Single Desk Policy 2015-20 in a time bound manner.

As per the MoU, AiMeD will facilitate direct investment in Haryana in area of Medical Device Manufacturing as a Knowledge Partner for Industrial Planning and Promotion of Medical Device Manufacturing.

Chief Minister, Mr Manohar Lal Khattar in his speech mentioned, “We are more than delighted to join hands with AiMeD to bring in investment to the medical devices sector in Haryana to reduce import dependency   and convert Haryana into a global Medical Devices Manufacturing Hub”

The elated Mr Rajiv Nath, Forum Coordinator, AiMeD said on the occasion, “We are honoured to join hands with Haryana Govt. I have a vision of India being amongst Top5 Manufacturing Hubs of Medical Devices and this this MoU will help realise it by giving a big strategic push to manufacturing and innovation in Indian medical device industry while promoting Indian healthcare sector as a whole by giving access to consumers to homegrown affordable low cost medical devices .This initiative if timed now with the awaited National Policy on Medical Devices will now help reduce country’s huge import dependency in medical device sector while encouraging exports.”

As per AiMED, the Haryana government will also review its proposal for:

  1. Adding Medical Devices to Thrust Industry Sector for RCDB (Reduced Cost of Doing Business) benefits.
  2. Recognition of ICMED (Indian Certification for Medical Devices Scheme by QCI) as 3rd Party verification for Medical Devices Notified as Drugs as alternative acceptable     Compliance and Waiver of Inspection by SDCA, Haryana.
  3. Develop Laboratory for Testing of Medical Devices as a Common Manufacturing Facility and as a Cluster SPV with assistance of Ministry of Commerce under ASIDE or some other Incentive Scheme.
  4. Create a Stainless Steel Alloy Common Manufacturing Facility and as a Cluster SPV for aiding the Orthopedic Implant Industry – Light Engineering, Precision Machining.
  5. Aid Development of Common Manufacturing and Export Promotion Facilitation Counters and Show Windows in Existing Clusters of Ambala, Gurgaon & Faridabad.

The move is likely to have a huge positive impact on ‘Make in India’ program while giving a big shot to manufacturing of medical devices within the country and bring esteem to the Indian Medical Devices Industry & Nation thereby building Brand India.

Under the joint mechanism, both organizations will soon start work and coordinate with Government of India for supportive policies to achieve the objectives of this MoU. Haryana is currently at 2nd place after Karnataka in Turnover of Medical Devices Manufacturing and at 6th position in number of units, first being Gujarat as per ASSOCHAM report.