Indian medical device industry has been known to be heavily import-dependent, with about 80% of medical devices sourced internationally. Self-reliance in this crucial sector has been an area of priority for the Indian government over the last few years.

The Government of India has launched a Rs. 500 crore scheme to boost the medical devices industry, with a focus on manufacturing key components, skill development, clinical studies, infrastructure, and industry promotion. The scheme, covering FY24 to FY27, includes five components:
– Common Facilities for Medical Device Clusters: Rs. 110 crore for R&D labs, testing centers, and animal labs.

Marginal Investment Scheme: Rs. 180 crore to reduce import dependence by incentivizing the production of critical components.
Capacity Building & Skill Development: Rs. 100 crore to enhance sectoral expertise.

Clinical Studies Support: Rs. 100 crore to assist with animal and human trials.
Medical Device Promotion: Rs. 10 crore for industry promotion.

 

References:

[1 ]Datta, Pritam & Selvaraj, Sakthivel. (2019). Medical Devices Manufacturing Industry Estimation of Market Size and Import Dependence in India. Economic and political weekly. 54. 46-53.


[2] https://lnkd.in/e349xTFQ

MedTech HealthcareInnovation India MedicalDevices SelfReliantIndia

Export, Import and Net Import of Medical Devices and Equipment in India (` billion) [1]. Chart intended only for illustrative purpose.