medisourceasia.com

Industry News


About 
medisourceasia

Magazine
Industry News
Global Trends
Events Calendar
Web Links

Web Gallery

Advertising  Info

Contact

 

Medical device cos ask DoP to reduce threshold investment limit to Rs. 75 to 90 crore from Rs. 180 crore under PLI Scheme

Medical device manufacturers have urged the Department of Pharmaceuticals (DoP) to consider reducing threshold investment limit in range of Rs. 75 to Rs. 90 crore from Rs. 180 crore for domestic manufacturers in the Production Linked Incentive (PLI) Scheme for promoting domestic manufacturing of medical devices.

This, according to the Association of Indian Medical Device Industry (AiMeD), will also widen the scope of eligibility to cover COVID-19 utility medical devices.

The Government of India through its flagship “Make in India” initiative relied heavily on the Indian manufacturers to meet the rising demand of essential healthcare equipment for the country pushing the Indian medical devices sector to become self-reliant especially for essential 39 COVID-19 medical devices.

DoP had notified PLI Scheme for promoting domestic manufacturing of medical devices through a gazette notification dated July 21, 2020. Total financial outlay of the Scheme is Rs. 3,420 crore.

According to Rajiv Nath, Forum Coordinator, AiMeD, “The threshold investment limit of Rs. 180 crore over 3 years is palatable for those manufacturers with turnovers of over Rs. 800 to Rs. 1,000 crore which hardly anyone can bear. That is why, we have sought DoP to consider reducing this in the range of Rs. 75 crore to Rs. 90 crore for domestic manufacturers.

As per the PLI Scheme for medical devices, the incentive per company will be applicable on incremental sales of manufactured goods over base year subject to ceilings as decided by the empowered committee (EC). This has been done to address disability in manufacturing of medical devices in India vis-ŕ-vis other major manufacturing economies.

AiMeD has worked with Quality Council of India (QCI) to expedite finalization of Indian Certification for Medical Devices (ICMED) Scheme Plus Certification as well as with consultants consortium to provide online training on quality management system (QMS) certification to new entrepreneurs who had ventured into medical devices manufacturing towards capacity building to meet QCIs ICMED certification and regulatory compliance so that they could develop confidence to seek global certification of CE and US FDA compliance for enabling global competitiveness.

Under the PLI scheme, financial incentives shall be given to selected companies based on threshold investment and incremental sales (over Base Year) of medical devices covered under target segments.

Under the Scheme, financial incentive shall be given to selected companies at the rate of 5% of incremental sales (over Base Year) of goods manufactured in India and covered under Target segments, for a period of five years i.e. from FY 2021-22 to FY 2025-26.

The PLI scheme, however, is applicable only for greenfield projects. Financial incentive under the scheme shall be provided only to companies engaged in manufacturing of goods covered under target segments in India.

Eligibility shall be subject to thresholds of investment and incremental sales of manufactured goods (covered under Target Segments) over Base Year. An applicant must meet all the threshold conditions to be eligible for disbursement of incentive. Eligibility under Production Linked Incentive scheme shall not affect eligibility under any other Scheme and vice-versa. The tenure of the scheme is from FY 2020-21 to FY 2026-27.

The application window for receiving the applications shall be 120 days. Financial Year 2019-20 shall be treated as the base year for computation of incremental sales of manufactured goods.

Assessment of threshold investment and incremental sales of manufactured goods shall be based on details furnished to the departments/ministries/agencies and statutory auditor certificates. Application under the Scheme can be made by any company registered in India.

http://pharmabiz.com/NewsDetails.aspx?aid=133142&sid=1


Medical device park to come up in Uttar Pradesh

Simultaneously, it is also setting up an electronics park, apparel park, handicraft park and toy park

A dedicated medical device park is proposed to be developed over 350 acre in Yamuna Expressway Industrial Development Authority ‘s (YEIDA) Sector-28 along Yamuna Expressway in Uttar Pradesh.

A memorandum of understanding (MoU) has been signed with the Kalam Institute of Health Technology to prepare a detailed project report (DPR) for the project.

The government is focusing on industries such as bulk drug and medical device manufacturing, for which the state government is in touch with the Centre for development of dedicated industrial parks.

Simultaneously, it is also setting up an electronics park, apparel park, handicraft park and toy park in the YEIDA area. Moreover, an integrated township is also planned along the proposed heritage city at Raya Urban Centre and a logistics hub at Bajna Urban Centre.

The industrial development authorities have allotted almost 740 acre under 1,097 plots for projects with an investment of around Rs 9,700 crore in 2020-21. These projects will create employment potential for nearly 1,95,990 people. Out of this, YEIDA has allotted 566 acre land parcel in 871 plots for projects worth Rs 7,006 crore.

Allotment of 124 plots has been made for an apparel park, 76 plots for a handicraft park, 516 plots for MSME park and 111 plots for a toy park in Sectors 29 and 33.

The Uttar Pradesh State Industrial Development Authority (UPSIDA) has allocated nearly 52 acre in 123 plots for projects worth Rs 588 crore, followed by Noida which has allotted 92 acre in 101 plots for projects worth Rs 1,341 crore.

The major investments in these areas include a data centre by Hiranandani Group worth Rs 750 crore, an integrated food processing unit by Britannia Industries worth Rs 300 crore, yeast manufacturing by Associated British Food worth Rs 750 crore, consumer electronics by Dixon Technologies worth Rs 200 crore, footwear manufacturing by Von Wellex of Germany worth Rs 300 crore, grain infrastructure equipment by Ekagrata Inc of Canada worth Rs 746 crore, wiring harness and components by Japan’s Yazaki worth Rs 2,000 crore and electric vehicles unit by Edison Motors of South Korea worth Rs 750 crore.

Moreover, post covid-19, seven projects with an investment of around Rs 8,500 crore have commenced commercial operations, while 19 projects with an investment of around Rs 6,400 crore have entered active implementation stage.

https://www.constructionweekonline.in/projects-tenders/15886-medical-device-park-to-come-up-in-uttar-pradesh

 

Other News

Narayana Health and MSMF team up with BIRAC to set up advanced Med Tech Innovation Centre
Poly Medicure to enhance R&D capabilities to deliver high quality medical devices
Medical device cos ask DoP to reduce threshold investment limit to Rs. 75 to 90 crore from Rs. 180 crore under PLI Scheme
Medical device park to come up in Uttar Pradesh
New medical device regulations may affect patent filings for medical device inventions in India
On track to produce 177.6 million auto-disable syringes for government by March: HMD
Haryana set to become hub of medical devices as around 100 industrial units set up plants in the state
Emerging trends in Indian healthcare industry
A Few Thoughts on Medical Plastics in the Time of COVID-19
Gujarat: Sans central aid, medical device park to take shape
National Bio Entrepreneurship Competition sees cutting-edge inventions

Archives

Advertisement

 

 


Back | Back To Top | Previous | Next