India’s Health Ministry Launches ‘Medical Devices Development Fund’ for Innovation
In November 2024, India’s Union Health Ministry launched the Scheme for Strengthening the Medical Device Industry, a comprehensive initiative with an outlay of ₹500 crore aimed at bolstering domestic manufacturing, fostering innovation, and reducing import dependency in the medical devices sector.
Key Components of the Scheme:
- Common Facilities for Medical Device Clusters:
- Allocation of ₹110 crore to develop shared infrastructure such as research and development labs, design and testing centers, and animal testing facilities within medical device clusters.
- Promotion of Domestic Manufacturing:
- Provision of subsidies up to 20%, capped at ₹10 crore per project, to support the production of essential components and accessories, thereby reducing reliance on imports.
- Support for Clinical Studies and Skill Development:
- Financial assistance up to ₹5 crore for conducting animal studies and clinical investigations of indigenously developed medical devices.
- Implementation of master’s degrees and short-term courses to enhance the skill set within the industry.
- Industry Promotion:
- Initiatives to elevate India’s position as a global leader in medical technology through strategic industry promotion activities.
Industry Response:
The medical devices industry has welcomed the scheme, recognizing its potential to accelerate growth, enhance self-reliance, and position India as a leading exporter of medical devices.
Government’s Vision:
Union Health and Family Welfare Minister J.P. Nadda described the scheme as a “game-changer” for the industry, emphasizing its role in making India self-reliant in medical device manufacturing.
