Shri JP Nadda Launches Scheme to Strengthen Medical Device Industry
The Union Minister for Chemicals and Fertilizers, Shri JP Nadda, launched the “Scheme for Strengthening the Medical Device Industry,” aimed at boosting the sector and making India self-reliant in medical devices. The scheme, with a total outlay of Rs. 500 Crores, covers critical areas such as manufacturing of key components, skill development, clinical studies, infrastructure development, and industry promotion. The event also saw the presence of Union Minister of State Smt. Anupriya Patel, Secretary of the Department of Pharmaceuticals Shri Arunish Chawla, and industry representatives.
The scheme is designed to strengthen the medical device sector in India by addressing infrastructure gaps, reducing import dependency, and building a skilled workforce. It aims to make India a global hub for medical device manufacturing by focusing on crucial areas like R&D, clinical studies, and industry promotion.
Common Facilities for Medical Devices Clusters (Rs. 110 Crore)
Financial assistance will be provided to create infrastructure like R&D labs, Design and Testing Centres, and Animal Labs for medical device manufacturers.
Marginal Investment Scheme for Reducing Import Dependence (Rs. 180 Crore)
Aimed at strengthening the MedTech supply chain, this scheme provides a one-time capital subsidy of 10-20% (up to Rs. 10 Crore) for the manufacturing of key components, raw materials, and accessories domestically.
Capacity Building and Skill Development (Rs. 100 Crore)
Financial support will be offered for running Masters’ and short-term courses to develop a skilled workforce. It includes up to Rs. 21 Crore for Masters’ courses and training subsidies for diploma and short-term courses.
Medical Device Clinical Studies Support (Rs. 100 Crore)
This initiative offers financial assistance for conducting clinical studies, including animal trials and human trials, up to Rs. 5 Crore for clinical investigations.
Medical Device Promotion Scheme (Rs. 10 Crore)
This sub-scheme will promote medical devices by supporting conferences, surveys, and studies related to the industry.
With the medical device industry valued at $14 billion and projected to grow to $30 billion by 2030, this scheme addresses long-standing challenges such as import dependency and infrastructure gaps. It positions India as a potential global leader in medical device production, fostering innovation at a fraction of the cost compared to international competitors.
Minister Nadda emphasized that the scheme would not only support the industry but also contribute to India’s goal of self-reliance. The government, led by Prime Minister Narendra Modi, is committed to making India a manufacturing hub for medical devices, backed by initiatives like the PLI scheme. The scheme’s success relies on industry collaboration and the government’s ongoing support.
| Why in News | Key Points | Additional Static Points |
|---|---|---|
| Scheme for Strengthening the Medical Device Industry launched | Total outlay: Rs. 500 Crore | Medical Device Market: $14 billion, expected to grow to $30 billion by 2030 |
| Objective | Focus on manufacturing, skill development, clinical studies, infrastructure, and industry promotion | Scheme launched by: Shri JP Nadda, Union Minister for Chemicals and Fertilizers |
| Sub-schemes | 1. Common Facilities for Medical Devices Clusters – Rs. 110 Crore | Smt. Anupriya Patel, Union Minister of State for Chemicals and Fertilizers |
| 2. Marginal Investment Scheme – Rs. 180 Crore | Shri Arunish Chawla, Secretary, Department of Pharmaceuticals | |
| 3. Capacity Building & Skill Development – Rs. 100 Crore | Common Facilities include R&D Labs, Design Centres, Animal Labs | |
| 4. Medical Device Clinical Studies Support – Rs. 100 Crore | Maximum subsidy: Rs. 10-20% for reducing import dependency | |
| 5. Medical Device Promotion Scheme – Rs. 10 Crore | Up to Rs. 20 Crore for infrastructure support | |
| Support for Clinical Studies | Up to Rs. 5 Crore for clinical investigations, Rs. 2.5 Crore for animal studies | Maximum financial support for clinical studies: Rs. 5 Crore |
Did you know that one beautiful lake in Udaipur is lovingly called the “Jewel” of…
Did you know that bananas are one of the most loved and widely eaten fruits…
Lok Sabha MP Shashi Tharoor was conferred an honorary Doctor of Letters (D.Litt) degree by…
Prime Minister Narendra Modi announced that the statue of British architect Edwin Lutyens at Rashtrapati…
The Punjab government has launched the ‘Meri Rasoi’ scheme to provide nutritional support to nearly…
PhonePe has launched an AI-powered natural language search feature built on Microsoft Foundry. The new…