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Medical Device Park Scheme
March 23 , 2020
1629 days
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- The Union Cabinet chaired by PM Modi approved the Medical Device Park Scheme.
- The scheme aims to boost the domestic manufacturing of medical devices in the country.
- It includes setting up of medical device parks in Tamil Nadu, Kerala, Telangana and Andhra Pradesh.
- Every park is to receive Rs.100 crores.
- The parks will help to reduce imports and also increase standard of medical testing.
- Also, the scheme will help to reduce cost of production.
- India is the fourth largest market for medical devices in Asia.
- However, the domestic medical devices industry in India is very small.
- India’s domestic medical devices stand at 2% of the global industry.
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