Last Updated on December 16, 2024 by The Health Master
Medical Device Park
The Department of Pharmaceuticals (DoP) is actively working to transform India into a global hub for medical device manufacturing in the form of developing Medical Device Park.
A key initiative in this endeavor is the establishment of medical device parks across the country. One such ambitious project is the medical device park at Nagalpar, near Rajkot, in Gujarat.
Gujarat’s State-of-the-Art Medical Device Park
The Gujarat government has allocated Rs. 250 crore for this state-of-the-art park, spread over 336 acres.
This makes it India’s first medical device park developed without any central financial assistance.
The medical device park is expected to commence operations by the end of 2025.
Key Features of the Nagalpar Medical Device Park:
- Strategic Location: Situated in a region known for its engineering prowess, the medical device park offers easy access to skilled labor, infrastructure, and a robust supply chain.
- Investment Potential: The medical device park is expected to attract investments worth USD 100-150 million over the next three years.
- World-Class Facilities: The medical device park will provide state-of-the-art facilities for research and development, testing, training, and manufacturing.
- Job Creation: The medical device park is projected to create numerous jobs in the medical device industry.
DoP’s Role in Promoting Medical Device Manufacturing
The DoP has implemented several initiatives to foster the growth of the medical device sector in India:
- Promotion of Medical Device Parks: The DoP has allocated Rs. 100 crore each to four states—Uttar Pradesh, Tamil Nadu, Madhya Pradesh, and Himachal Pradesh—to develop common facilities in their respective medical device parks.
- Production Linked Incentive (PLI) Scheme: This scheme offers financial incentives to domestic manufacturers of medical devices, encouraging them to increase production and reduce import dependency.
- Support for Specialized Facilities: The DoP has provided grants to institutions like AMTZ to establish advanced facilities for medical device manufacturing.
By leveraging the potential of medical device parks like Nagalpar and implementing supportive policies, India is poised to become a major player in the global medical device industry.
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Q: Why is the Nagalpar medical device park significant for India?
A: The Nagalpar medical device park is a crucial step towards India’s goal of becoming a global leader in medical device manufacturing. It will promote innovation, job creation, and economic growth.
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Q: How will the PLI scheme benefit the medical device industry?
A: The PLI scheme will incentivize domestic manufacturers to increase production, reduce import dependency, and enhance India’s competitiveness in the global medical device market.
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Q: What is the role of the DoP in promoting medical device manufacturing?
A: The DoP is actively working to create a conducive environment for medical device manufacturing in India through various initiatives, including the promotion of medical device parks, the PLI scheme, and support for specialized facilities.
Disclaimer: This article contains information derived from the source mentioned below. Our team utilized an AI language model to rewrite and present the news or article in a unique format.
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