India's Boost to MedTech Masala: A Triumph in Self-Reliance
The Indian government has introduced a Rs 500 crore scheme to bolster the medical device industry. It supports manufacturing, skill development, and clinical studies. Union Minister JP Nadda calls it transformative, aiming for a self-reliant India. Medical device clusters will receive infrastructure and investment support, enhancing domestic MedTech capabilities.
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On Friday, the Indian government unveiled a groundbreaking scheme with a budget of Rs 500 crore dedicated to advancing the medical device industry, as stated in an official announcement.
This scheme encompasses manufacturing of key components, skill enhancement, support for clinical research, infrastructure development, and industry promotion. Union Minister for Chemicals and Fertilizers JP Nadda emphasized that the initiative is poised to be a significant change agent, propelling India towards self-sufficiency.
He highlighted the proactive nature of the government under Prime Minister Narendra Modi, stressing the scheme's role in creating new avenues for growth. Nadda urged the medical device sector to capitalize on this opportunity, with the Department of Pharmaceuticals promising full support.
(With inputs from agencies.)
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