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Cabinet Approves Promoting Domestic Manufacturing Of Medical Devices

The Union Cabinet chaired by the Prime Minister, Narendra Modi has approved following schemes:

1. The scheme on Promotion of Medical Device Parks for financing Common Infrastructure Facilities in 4 Medical Device Parks with financial implications of Rs. 400 crore.

2. The Production Linked Incentive (PLI) Scheme for promoting domestic manufacturing of medical devices with financial implications of Rs. 3,420 crore.

Production Linked Incentive Scheme

1. The Medical Device sector suffers from a cost of manufacturing disability of around 12% to 15%, vis-a-vis competing economies, among other things, on account of lack of adequate infrastructure, domestic supply chain and logistics, high cost of finance, inadequate availability of quality power, limited design capabilities and low focus on R&D and skill development, etc. There is, thus, a need for a mechanism to compensate for the manufacturing disability.

2. The Scheme aim to boost domestic manufacturing by attracting large investments in medical device sector. Under the Scheme, incentive @ 5% of incremental sales over base year 2019-20 will be provided on the segments of medical devices identified under the Scheme.

Implementation:

The Scheme for Promotion of Medical Device Parks will be implemented by a State Implementing Agency (SIA). The PLI Scheme for promoting domestic manufacturing will be implemented by a Project Management Agency (PMA) to be nominated by Department of Pharmaceuticals. The target is to provide financial assistance for Common Infrastructure Facilities for 04 Medical Device parks. The target for PLI Scheme is to provide assistance to about 25-30 manufacturers under the following categories of medical devices: -

1. Cancer care/Radiotherapy medical devices,

2. Radiology & Imaging medical devices (both ionizing & nonionizing radiation products) and Nuclear Imaging Devices,

3. Anesthetics & Cardio-Respiratory medical devices including Catheters of Cardio Respiratory Category & Renal Care Medical Devices and

4. AII Implants including implantable electronic devices like Cochlear Implants and Pacemakers.

( https://www.biospectrumindia.com/news/22/16011/cabinetapproves-promoting-domestic-manufacturing-of-medicaldevices.html , 24 March 2020 ).

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