NEW DELHI: To boost India’s medical device industry, the government on Friday launched a Rs 500 crore scheme aimed at strengthening key areas such as manufacturing, skill development, clinical studies, infrastructure, and industry promotion.Union Health and Family Welfare Minister J P Nadda, while launching the scheme, described it as a potential “game-changer” for the industry.Nadda, who also holds the portfolio of Union Chemicals and Fertilisers Minister, stated, “The comprehensive scheme, with an outlay of Rs 500 crore, aims to address critical areas of the sector, including manufacturing, skill development, clinical studies, infrastructure, and industry promotion.” He added that the scheme would significantly benefit the medical device industry and contribute to India’s self-reliance. “The scheme is going to be a game-changer and it will not only help the industry but will also be a long leap in making India self-reliant,” he said.Emphasising the government’s commitment, Nadda urged industry stakeholders to effectively utilise the scheme. “These interventions may look small, but the outcomes are big,” he remarked.Medical devices play a critical role in the prevention, diagnosis, and treatment of diseases, ranging from diagnostic machines and surgical instruments to stents and prosthetics. Officials noted that India has started exporting a wide array of medical devices, including ventilators, PPEs, diagnostic kits, surgical gloves, coronary stents, radio-imaging equipment, and body implants.The medical device market in India is valued at approximately 14 billion dollars and is projected to grow to 30 billion dollars by 2030. India is the fourth-largest medical devices market in Asia and ranks among the world’s top 20 medical devices markets.
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