What government grants are available for this Medical Device industry in Tamil Nadu?
The medical device industry in Tamil Nadu benefits from several government initiatives aimed at fostering growth and innovation. Key programs include:
1. Promotion of Medical Devices Parks
The Central Government’s “Promotion of Medical Devices Parks” scheme supports states in developing infrastructure for medical device manufacturing. Tamil Nadu received in-principle approval and a grant of ₹100 crore to establish a medical devices park in Oragadam, Kancheepuram district. The state government plans to develop this park with an investment of ₹450 crore over 350 acres, providing facilities like testing labs, product development centers, and skill development hubs.
2. Production Linked Incentive (PLI) Scheme for Medical Devices
The PLI scheme offers financial incentives to boost domestic manufacturing of medical devices. It provides a 5% incentive on incremental sales of goods manufactured in India across various segments, including cancer care devices, radiology equipment, and implants. This scheme aims to make India a global manufacturing hub for medical devices.
3. Scheme for Strengthening of Medical Device Industry (SMDI)
Launched with an outlay of ₹500 crore, the SMDI focuses on critical areas such as manufacturing key components, skill development, support for clinical studies, infrastructure development, and industry promotion. This comprehensive scheme aims to enhance the competitiveness and self-reliance of India’s medical device sector.
These initiatives collectively aim to reduce manufacturing costs, optimize resources, and provide easy access to standard testing and infrastructure facilities, strengthening the medical device industry in Tamil Nadu and across India.
