India Fortifies Medical Device Industry with Massive Funding Boost

Union Health Minister JP Nadda announces a new Rs 500 crore initiative aimed at bolstering India's medical device industry. The scheme emphasizes reducing import reliance, promoting global leadership, and advancing India’s self-reliance goals. Key sectors include manufacturing, skill development, and infrastructure creation.

In a decisive move to bolster the medical device sector, Union Health and Family Welfare Minister JP Nadda unveiled the "Strengthening the Medical Device Industry" scheme on Friday. The initiative, backed by a substantial Rs 500 crore fund, aims to enhance manufacturing capabilities, skill development, and infrastructure within the industry.

Describing the scheme as a transformative initiative, Nadda emphasized its role in reducing India's dependency on imports and aligning with the vision of a self-reliant nation by 2047. "The government's actionable strategies are paving the path for India to emerge as a global leader in the medical device sector," he stated during the launch.

The event was attended by Minister of State Anupriya Patel and Department of Pharmaceuticals Secretary Arunish Chawla, alongside industry stakeholders. Patel remarked on the critical importance of medical devices in healthcare, highlighting government policies designed to foster growth and innovation in this vital sector.

(With inputs from agencies.)