PM Modi inaugurates medical devices plant in Vapi
Vapi: Prime Minister Narendra Modi virtually inaugurated a Meril manufacturing facility, a medical device producer and exporter, in Vapi, Valsad district, Gujarat, on Tuesday. According to a press release, the facility was set up under the Production Linked Incentive (PLI) scheme. Gujarat Chief Minister Bhupendra Patel attended the inauguration at Meril’s headquarters in Vapi.
Meril has bolstered India's global footprint and it is actively reducing India's dependence on foreign imports and supporting the vision of Atmanirbhar Bharat, said the release.
"We are honoured to be recognised under the PLI scheme, aligning with India's vision of self-reliance in healthcare. This new facility embodies Meril's commitment to innovation and quality, enabling us to deliver advanced healthcare solutions globally across 150 countries," Meril CEO Vivek Shah said.
At the 2024 Vibrant Gujarat Global Summit, Meril signed a Memorandum of Understanding (MoU) with the Gujarat government, committing Rs 910 crore in new investments in the medical devices sector.
To date, Meril has invested over Rs 1,400 crore, highlighting its commitment to India's medtech ecosystem. This investment is expected to create 5,000 jobs and significantly reduce imports of critical medical devices, said the release.
Under the PLI scheme, four of Merilas group companies operating in Structural Heart, Vascular Interventions, Orthopaedics, and Endo-Surgery are included, supporting the production of essential devices domestically, it added
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