The government of India has given approval for setting up four medical device parks with a view to support Make in India initiative and provide world-class products at an affordable price for treatment. The four parks will be set up in Andhra Pradesh, Telangana, Tamil Nadu and Kerala.
These parks will provide the necessary infrastructure, where companies can easily plug and play. This will not only cut import bill but will also help in easy access to standard testing facilities and reduce the cost of production. The project of Andhra Pradesh Medtech Zone for creation of Common Facility Centre (CFC) for Superconducting Magnetic Coil Testing and Research was given in-principle approval recently. The scheme proposes to provide Rs. 25 crores or 70% of the project cost of setting up CFCs, whichever is less, for the creation of common facilities in any upcoming park.
Source: The Economic Times