As a gift to the health sector, the government launched a major initiative on Friday. As part of this, a Rs 500 crore program has been launched to make the medical equipment industry self-reliant. Union Health Minister JP Nadda said about the project that it will be a game-changer. This will not only help the industry but will also be a big step towards self-reliance for India.
From diagnostic machines to surgical instruments, from stents to prosthetics, this program is essential for the prevention, diagnosis and treatment of medical device-related diseases. According to reports, the Indian medical devices market is worth around $14 billion and is expected to reach $30 billion by 2030. The total outlay of the new program is Rs 500 crore. It includes five subschemas.
General facilities for medical devices cluster worth Rs 110 crore
The medical device manufacturing sector in India is facing challenges. One of the main challenges is the lack of infrastructure. The central government, through a sub-program for common facilities for medical device clusters, will provide financial assistance to medical device clusters to create common infrastructure such as R&D laboratories, design centers and testing, animal laboratories, etc. for manufacturers located in the cluster. Assistance will be provided to national/state/private institutions to strengthen existing testing facilities or to establish new facilities. A provision of up to Rs 20 crore will be made for general facilities. A grant of Rs 5 crore will be provided for testing facilities.
Marginal investment program to reduce import dependence of Rs 180 crore
The second sub-program providing marginal investment assistance is designed to deepen the medical technology supply chain in the country by focusing on the manufacturing of key components, raw materials and accessories in the country. The goal of this subroutine is to reduce dependence on imported components. Currently, most raw materials and key components are imported, making Indian manufacturers dependent on external supplies for the production of medical devices. This sub-scheme provides a lump sum capital subsidy of 10-20 per cent, 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-program focuses on capacity building and skills development for the medical devices sector. It aims to develop a skilled technical workforce capable of designing and developing medical technology products. The central government will provide financial assistance to organize various postgraduate and short 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 courses. Rs 25,000 per candidate will be available for diploma courses at NCVET approved institutes.
Rs 100 crore medical device clinical study support program
The fourth subprogram is a pioneering initiative, designed to help established companies and start-ups conduct clinical studies. The program allows medical device developers and manufacturers to apply for financial support for animal studies and, if successful, apply for human trials to validate medical technology products. Financial assistance of up to Rs 2.5 crore will be provided for animal studies. For clinical trials of investigational devices and post-marketing clinical monitoring of 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 evaluating the clinical performance of new in vitro diagnostic products. This subprogram is expected to significantly benefit industry by addressing the long-standing need for clinical study support. It will promote the safety and effectiveness of medical devices produced in India and also help Indian manufacturers obtain registration of their products in international markets.
Rs 10 crore medical equipment incentive scheme
The program 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 contribute to carrying out surveys and studies.
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