Govt nod to 8 more device manufacturers under PLI scheme for Medical devices
New Delhi: The Ministry of Chemicals and Fertilizers has recently approved 8 more manufacturers under PLI scheme for promotion of Domestic Manufacturing of Medical Devices. The setting up of these 8 plants will lead to a total committed investment of Rs. 260.40 crore by the companies and employment generation of about 2,599.
The approval is given for MRI Coils, Anesthesia workstation, Anesthesia Unit Gas Scavengers, Anesthesia Kits, Masks —Anesthesia, Anesthesia Unit Vaporizers, Anesthesia Unit Ventilators, Automated external defibrillators (AEDs), Oxygen concentrator, other products Bi- Phasic Defibrillators, Infusion pumps - Syringe and Volumetric, Intensive Care Ventilators, Emergency Ventilators, High Flow Oxygen Devices, Multi-parameter Monitor, Suction Machine, Anesthesia Unit Ventilators, Dialyzer, Oxygen Concentrators, Hip Implants, Knee Implants, other Product Trauma Implant, Heart Valves, Stents and PTCA Balloon Catheter, Stents, PTCA Balloon Catheter, Drug Eluting Stents, and Drug Eluting Balloon.
The Medical Device Sector in India suffers from a considerable cost of manufacturing disability vis-à-vis competing economies, inter alia, on account of lack of adequate infrastructure, domestic supply chain and logistics, high cost of finance, inadequate availability of power, limited design capabilities, low focus on research & development (R&D) and skill development, etc.
With an objective to boost domestic manufacturing, attract large investment in the Medical Device Sector, the Department of Pharmaceuticals had launched a Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of Medical Devices to ensure a level playing field for the domestic manufacturers of medical devices with a total financial outlay of Rs.3,420 cr. for the period 2020-21 to 2027-28.
Read also: 55 manufacturers to benefit under PLI scheme for pharma sector, says Govt
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