Union Health Minister Dr Mansukh Mandaviya inaugurated India’s first medical technology expo, ‘India MedTech Expo 2023’, in Gandhinagar, Gujarat on August 17. The inaugural event was organised on the sidelines of the G20 Health Ministers’ Meeting.
“India has been recognised as the ‘Pharmacy of the World’. It is now time for India to take the lead in the medical devices sector and become the leader in the manufacturing of affordable, innovative and quality Medical Devices,” the Union Minister said in his address.
The Minister informed that the “MedTech Expo 2023 draws inspiration from PM Modi’s vision of making India Aatmanirbhar. The Expo is set to become an unparalleled and comprehensive platform for demonstrating the capabilities and promise of the Indian Medical Devices ecosystem. Additionally, he emphasized that India holds the position of the fastest-growing medical devices market among the emerging economies.
Union Minister Mandaviya highlighted that the objective is to achieve self-sufficiency in the medical device industry and diminish reliance on imports, “which also perfectly aligns with our vision of Aatmanirbhar Bharat, and “Make in India, Make for the World”. He also noted that the manufacturing of medical devices is allowed to attract Foreign Direct Investment (FDI) up to 100% through the automatic route.
Measures taken to boost medical devices sector
He expressed that the Indian medical devices sector has witnessed several measures taken by the government which encompasses the relaxation of numerous rules and regulations, emphasis on ease of doing business, technological progress, and streamlining investment procedures, among others.
Highlighting the new initiatives taken under this sector, Dr Mandaviya said, “besides the National Medical Device Policy 2023, the Government has recently launched the the Export-Promotion Council for Medical Devices and a scheme for Assistance of the Medical Device Cluster to promote infrastructure development and strengthen the testing facilities for medical devices in the country.”
Dr. Mandaviya highlighted the diversity and vitality of India’s medical devices sector’s startup ecosystem, which comprises over 250 organizations dedicated to innovative solutions for critical health challenges. He pointed out that within a short span of 2-3 months during the COVID-19 pandemic, India’s rapid response and assistance to other nations through the provision of medical diagnostic kits, ventilators, Rapid Antigen Test kits, RT-PCR kits, IR thermometers, PPE kits, and N-95 masks gained global recognition.
The Union Health Minister also conveyed that substantial investments by the government are being channeled into enhancing infrastructure, which will subsequently drive the demand for more sophisticated technology and advanced medical devices. He also spoke about the PLI scheme which was initiated to boost indigenous production of medical devices, allocating a total budget of Rs. 3,420 crore for four target segments of medical devices.
India’s path ahead in becoming a worldwide center for medical devices involves establishing collaborations between industry and government. The forthcoming changes in the field of Medical Devices will be influenced by ongoing technological advancements, miniaturization of devices, incorporation with the Internet of Things (IoT), 3D printing, and customised medical devices.
