The Indian government launched a Rs 500 crore scheme to boost the medical device industry. The scheme aims to strengthen various aspects of the industry, including manufacturing, skill development, clinical studies, infrastructure, and promotion. The government aims to reduce India’s dependence on imported medical devices and promote domestic manufacturing.
The scheme will be implemented over three years and includes several components. These components include providing funds for common facilities in medical device clusters, capacity building and skill development initiatives, a marginal investment scheme to incentivize domestic production, support for clinical studies, and a medical device promotion scheme.
The government aims to create a robust medical device ecosystem in India and position the country as a global manufacturing hub. The scheme is expected to attract investment, create jobs, and improve access to affordable medical devices for Indian citizens.
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