Union Cabinet approves ‘National Medical Devices Policy 2023’

Category : National Published on: April 29 2023

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A Union Cabinet meeting chaired by Prime Minister Narendra Modi has approved the National Medical Devices Policy, 2023.
The policy is expected to help the medical devices sector grow from the present USD 11 billion to USD 50 billion in the next five years.
The policy is expected to provide the required support and directions to strengthen the medical devices industry into a competitive, self-reliant, resilient and innovative industry that caters to the healthcare needs of India and the world.
The policy aims to place the medical devices sector on an accelerated path of growth with a patient-centric approach to meet the evolving healthcare needs of patients.
The government has already initiated implementation of the PLI Scheme for medical devices and extended support for setting up of 4 medical device parks in Himachal Pradesh, Madhya Pradesh, Tamil Nadu and Uttar Pradesh.
Under the Production Linked Incentive (PLI) scheme for medical devices, till now, a total of 26 projects have been approved with a committed investment of Rs 1,206 crore and out of this, so far, an investment of Rs 714 crore has been achieved.
The Union Cabinet has also approved the establishment of 157 new nursing colleges at a cost of Rs 1,570 crore in co-location with existing medical colleges.