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U.S.-India Business Council Concludes
Successful Medical Device Trade Mission To India
The U.S.-India Business Council (USIBC) concluded its Medical
Device Trade Mission to New Delhi and Gandhinagar. The delegation expressed its
commitment to addressing India’s most pressing public health challenges, and
called for further dialogue with the government on issues related to ease of
doing business, disease management, and the implementation of training programs
for medical device regulators.
The delegation was chaired by Maulik Nanavaty, Senior Vice
President and President for Neuromodulation at Boston Scientific, and included
participation from Abbott, Medtronic, Zimmer, Johnson & Johnson, Quintiles,
General Electric, Varian Medical, and AZB & Partners.
“Through this series of fruitful discussions, we have
identified opportunities to continue collaborating with the Government of India
in support of its priorities to attract investment and talent to the medical
device sector. India has made considerable strides in developing innovative
industries across a number of sectors and maintains strong potential to do the
same in medical devices. With India’s first-rate engineering talent, experience
in IT innovation, and the Modi government’s Make in India focus, it is even more
important for the government and industry to work toward creating the proper
ecosystem for medical device innovation. This will expedite the ongoing creation
of research and development and product innovation that medical device companies
offer India, leading to faster growth of medical device manufacturing in the
country. The time is opportune to fulfill the government’s mandate of Make in
India and Innovate in India,” said Maulik Nanavaty of Boston Scientific.
Meetings with the Government of India included the Ministry
of Health, Department of Industrial Policy and Promotion, Drugs Controller
General of India, Ministry of Commerce, Ministry of Finance, Department of
Pharmaceuticals, and the Ministry of Chemicals and Fertilizers.
“USIBC member companies were encouraged by the openness of
the Government of India to engage with industry on best practices and areas of
potential collaboration. Discussions included the importance of developing a
critical mass of patients with access to healthcare and improving patient
awareness of healthcare costs. USIBC members noted in their meetings that they
publish Maximum Retail Prices (MRP) on all medical devices sold in India. The
Indian medical device industry is going through rapid transformation and is
projected to grow at a higher rate as health insurance becomes more widely
available and the country’s consumers continue to demand better healthcare
services. USIBC’s medical device members are excited about the opportunities in
India,” said Amy Hariani, Director and Legal Policy Council at the U.S.-India
Business Council.
(Ref:
http://firstreport.in/news-release-u-s-indiabusiness-council-concludes-successfulmedical-device-trade-mission-to-indiafirstreportindiagmail-com-gmail
/).
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