Meril's New Facility Boosts India's Self-Reliance in Medical Tech

Prime Minister Narendra Modi inaugurated a new medical device manufacturing facility by Meril in Gujarat. This facility, established under the Production Linked Incentive scheme, supports India's self-reliance in healthcare. Meril plans to invest significantly in the medtech sector, boosting local production and creating thousands of jobs.

Prime Minister Narendra Modi virtually launched a state-of-the-art medical device manufacturing facility by Meril in Vapi, Gujarat. This development comes under the Production Linked Incentive (PLI) scheme, with Gujarat's Chief Minister Bhupendra Patel present at the inauguration.

The facility strengthens India's position in the global medical tech market and aligns with the vision of Atmanirbhar Bharat, significantly reducing reliance on foreign imports. Meril CEO Vivek Shah emphasized the company's dedication to innovation and quality healthcare solutions across 150 countries.

During the 2024 Vibrant Gujarat Global Summit, Meril signed a Memorandum of Understanding (MoU) with the Gujarat government, committing Rs 910 crore to the medical devices sector, creating 5,000 jobs, and lowering critical device imports, highlighting substantial investment in India's medtech ecosystem.

(With inputs from agencies.)