As a gift to the health sector, the government started a big initiative on Friday. Under this, a scheme of Rs 500 crore was launched to make the medical equipment industry self-reliant. Union Health Minister JP Nadda said about this scheme that it is going to prove to be a game changer. This will not only help the industry, but will also take a huge leap in making India self-reliant.
From diagnostic machines to surgical instruments, stents to prosthetics, the scheme is vital for the prevention, diagnosis and treatment of medical device diseases. According to the information, India’s medical device market is worth about $14 billion and is expected to grow to $30 billion by 2030. The total outlay of the new scheme is Rs 500 crore. It includes five sub-schemes.
General facilities for medical device cluster worth Rs 110 crore
The medical device manufacturing sector in India is facing challenges. One of the primary challenges is lack of infrastructure. Central Government through Sub-Scheme for Common Facilities for Medical Device Clusters will provide financial assistance to Medical Device Clusters for creating common infrastructure facilities like R&D laboratories, Design and Testing Centres, Animal Laboratories etc. for manufacturers located in the cluster. Will do. Assistance will be provided to National/State/Private institutions for strengthening existing testing facilities or setting up new facilities. A provision of up to Rs 20 crore will be made for general facilities. A grant of Rs 5 crore will be given for testing facilities.
Marginal Investment Scheme to reduce import dependence of Rs 180 crore
The second sub-scheme providing marginal investment assistance is designed to deepen the medtech supply chain in the country by focusing on manufacturing of key components, raw materials and accessories within the country. The objective of this sub-scheme is to reduce dependence on imported components. Currently most of the raw materials and key components are imported, leaving Indian manufacturers dependent on external supplies for medical device production. This sub-scheme provides a lump sum capital subsidy of 10-20%, with a maximum limit of Rs 10 crore per project.
Capacity building and skill development for medical devices with Rs 100 crore
The third sub-scheme focuses on capacity building and skill development for the medical devices sector. It aims to develop a skilled technical workforce capable of designing and developing medtech products. The Central Government will provide financial assistance for running various postgraduate and short-term courses. Support up to Rs 21 crore for Master’s courses in Central Government institutions under the sub-scheme; And Rs. Rs 10,000 per candidate for short-term courses. Rs 25,000 per candidate will be available for diploma courses in NCVET approved institutes.
Rs 100 crore medical device clinical study support scheme
The fourth sub-scheme is a pioneering initiative, designed to assist both established companies and start-ups in conducting clinical studies. The scheme enables medical device developers and manufacturers to apply for financial support for animal studies and, if successful, apply for human trials to validate medtech products. Financial assistance up to Rs 2.5 crore will be provided for animal studies. For clinical trials of investigational devices and post-market clinical follow-up on approved devices, a maximum of Rs 5 crore is available to generate clinical data. Additionally, a rebate of up to Rs 1 crore can be given for clinical performance assessment of new in-vitro diagnostic products. This sub-scheme is expected to significantly benefit the industry by addressing the long-standing need for support in clinical studies. It will promote the safety and efficacy of medical devices produced in India and will also help Indian manufacturers obtain product registration in international markets.
Medical Equipment Incentive Scheme of Rs 10 crore
The scheme aims to support industry associations and export councils by providing financial assistance for organizing conferences and other programs promoting medical device related activities. It will also assist in conducting surveys and studies.
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