Govt grants Rs 100cr for Medical Device Park

The Centre has given Rs 100 crore for infrastructure development of the medical device park

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Last Updated on August 5, 2021 by The Health Master

Greater Noida: The Centre has granted Rs 100 crore for a medical device park that will come up on 125 acres in Sector 28 of the Yamuna Expressway area.

The park is being billed as the first such facility in north India. Similar medical device parks have been set up in Andhra Pradesh, Telangana, Tamil Nadu and Kerala.

As of now, the Yamuna Expressway Industrial Development Authority (YEIDA) will set up a common facility centre for the park, which will have an incubation centre, effluent treatment plant and so on. Meditech Zone of Visakhapatnam will oversee the final details of the park as consultant while IIT-Kanpur will offer help as the knowledge partner.

The park is being set up as a hub of foreign and domestic pharma companies for manufacturing of diagnostic and surgical equipment and other medical devices, such as radiological CT scan and X-ray machines, BP monitors, ventilators etc. Only companies that are certified by the Indian Medical Device Industries can apply for plots in the park.

Oximeter Medical Device
Picture: Wikimedia

The park will accommodate about 250 units on plots ranging from 1,000-4,000 sqmt. Of these, 124 plots are likely to be up for grabs by August 13. While 10% of the plots will be reserved for startups, the companies that are chosen will be given subsidies on power, water, bank interest and taxes.

The Centre has given Rs 100 crore for infrastructure development of the medical device park. The money is for the common facility centre for industrial parks. Land will be provided by YEIDA for free,” said Arun Vir Singh, the YEIDA CEO.

Singh said the common facility centre would cater to the needs of all industrial units that would come up on the 125 acres. “Currently, we are finalising the terms and conditions of the scheme, under which, plots for 124 units will be ready by August 13. The common facility centre will have an R&D, incubation centre and effluent treatment plant,” said Singh.

The officials are targeting 2023 for production of medical equipment to start at the park. Investments worth Rs 5,000 crore are expected at the park and it is likely to generate 50,000 jobs.

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