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Landmark Public-Private Partnership MoU
Inked
AiMeD & Invest India sign a momentous MoU aimed at making
India a global manufacturing hub for medical devices and components
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This landmark
public-private partnership will help India become the top 5 global hub for
medical device manufacturing - Rajiv Nath, Forum Coordinator, AiMeD
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We are delighted to
join hands with AiMeD to bring in investment to the medical devices sector in
India and convert India into a global medical devices manufacturing hub - Deepak
Bagla, Managing Director, Invest India
New Delhi, 15th Feb, 2017 : In a landmark
public-private collaboration aimed at making India a global manufacturing hub of
medical devices, the Association of Indian Medical Device Industry (AiMeD) and
Invest India today signed a MoU which will promote and facilitate ‘Ease of Doing
Business, Promote Manufacturing and provide Hand Holding Services while aiming
to transform India into a Global Medical Devices Manufacturing Hub in keeping
with ‘Make in India’ mission.
AiMeD is the leading voice of domestic medical device
manufacturers while Invest India is the official investment promotion and
facilitation agency of the Government of India, mandated to facilitate
investments into India. The MoU was signed by Mr Rajiv Nath, Forum Coordinator,
AiMeD on behalf of the industry body and Mr Deepak Bagla, Managing Director,
Invest India.
Significant Points and Objectives of the MoU :
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AiMeD to provide
support to Invest India to enhance domain knowledge in medical devices and
components sector and jointly aim to build capacity and capability in advanced
manufacturing technologies and negotiating skills for technology tie ups.
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Invest India to
support and supplement AiMeD’s efforts to achieve the broader vision to
establish India the Global Manufacturing HUB for medical devices and components.
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AiMeD and Invest
India will jointly work with various Central Government and State Government
Departments & Agencies to establish appropriate policies and regulatory
framework to promote manufacturing of medical devices and components on a day to
day basis.
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AiMeD and Invest
India will reach out to all Tier 1, Tier 2 and Tier 3 companies in major medical
devices destinations like Taiwan, Japan, South Korea, Italy, Israel, Germany,
USA etc with the objective of technology sourcing and manufacturing JVs for
India.
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AiMeD and Invest
India will jointly host international road shows including conferences,
seminars, exhibitions to promote manufacturing in India and to apprise potential
investors of the policies, investment and manufacturing opportunities available
in India related to medical device and component sector.
“We are honoured and delighted to join forces with Invest
India to work as their knowledge partners on practical strategies to realize
Make in India.
This landmark public-private partnership will help India
become the top 5 global hub for medical device manufacturing,” said an elated Mr
Rajiv Nath, Forum Coordinator, AiMeD.
“We know the roadblocks that need to be addressed for both
Indian and Overseas Investors and will focus on getting collaborations and joint
ventures with midsized Indian companies with midsized overseas manufacturers and
OEM relationships with large overseas companies. This MoU will create basis for
implementing a coordinated cooperation in achieving the manufacturing objectives
as was recently done for Indian Cellular Industry. I have a vision of India
being amongst Top 5 Manufacturing Hubs of Medical Devices and this MoU will help
realize it by giving a big strategic push to manufacturing and innovation in
Indian medical device industry while promoting Ease of Doing Business in India,”
Mr Nath added.
Mr Deepak Bagla, Managing Director, Invest India said “We
look forward to work with AiMeD to bring in investment to the medical devices
sector in India and convert India into a global Medical Devices Manufacturing
Hub.”
According to credible estimates, India imports over Rs 30,000
crores of medical devices, which is nearly 70% of our requirement. In addition,
there is an equally huge export potential to the tune of Rs 50,000 Crore!
Medical device sector is being seen as the next big thing
after IT and Defence and India has the potential to emerge as a major exporter
on the lines of pharma products. Government of India has now added medical
devices as one of the flagship sector to catapult its ambitious ‘Make in India’
mission. The MoU between AiMeD and Invest India is in tune with realizing these
national objectives.
About AiMeD: AIMED is an umbrella association of
Indian manufacturers of medical devices covering all types of medical devices
including consumables, disposables, equipments, Implants, instruments and
diagnostics. AIMED has a primary membership of over 350 manufacturers and
additionally of over 150 associate members representing the interest of over 800
manufacturers of medical devices to address the manufacturer’s problems. To know
more about AIMED, please visit
www.aimedindia.com
About Invest India: Invest India is the official
Investment Promotion and Facilitation Agency of the Government of India,
mandated to facilitate investments into India. Invest India has a team of domain
and functional experts who provide sector-and state-specific inputs, and
hand-holding support to investors through the entire investment cycle, from
pre-investment decision-making to after-care.
For more information please contact : Rituparna Madhukalya,
Mob: 08826639144, Email:
rituparna@fourthestateindia.com
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