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DoP Approves Financial Assistance Of Rs.100 Crore For Common Facility Centres In Four Medical Device Parks

DoP Approves Financial Assistance Of Rs.100 Crore For Common Facility Centres In Four Medical Device Parks


Mumbai, 16 Dec 2019:

 

In order to boost indigenous medical device industry in the country, the Department of Pharmaceuticals (DoP) has approved a financial assistance of Rs.25 crore each for setting up common facility centres in the existing four medical device parks in the country.

 

DoP had received four proposals under this sub-scheme from Andhra Pradesh Medtech Zone (AMTZ) Ltd (AMTZ), Andhra Pradesh, Telangana Medical Device Park, Telangana, Kerala State Industrial Development Corporation (KSIDC), Kerala and HLL, Medipark Ltd (HML), Tamil Nadu.

 

Based on the proposals, DoP has given in-principle approval to all the parks for their holistic development.

 

DoP under the Union ministry of chemicals and fertilizers had devised a sub-scheme - Assistance to Medical Device Industry for Common Facility Center under the umbrella scheme for development of pharmaceuticals industry.

 

Under this sub-scheme, financial assistance to the tune of Rs.25 crore or 70% of the project cost, whichever is less may be provided for creation of common facilities under any medical device park promoted by state governments or state corporations.

 

AMTZ - India’s first medical devices manufacturing park have also inked formal agreements with various scientific facilities for medical equipment manufacturing, project development, construction, setting up agencies for technology transfer and financial support at Vishakhapatnam based manufacturing park spread over 270 acre.

 

These facilities include Centre for Electro-Magnetic Interference or Electro Magnetic Compatibility (EMI/EMC) and Electrical Safety Testing (EST), Centre for Biomaterials Testing, Centre for X-ray and CT Scan Tube Manufacturing, Centre for 3D Designing, canning, Printing, Rapid Prototyping and Tooling, Centre for Gamma Irradiation and AMTZ Central Warehouse.

 

Complementing the above-mentioned ecosystem, AMTZ has firmed up strategic tie-ups with industry associations including Association of Indian Medical Device Industry, Andhra Chamber of Commerce, GMDN Agency, India Angel Network, PHD Chamber of Commerce and Industry, Quality Council of India (QCI), UNITED ASIA and World Association for Small and Medium Enterprises (WASME) among others.

 

Medical device parks with in-house high investment scientific facilities would help manufacturers reduce the cost of manufacturing by more than 40 per cent to 50 per cent.

 

Currently, due to lack of such centrally located shareable facilities, either manufacturers do not undertake production of technologies requiring them or send their products abroad for process up-gradation and value addition.

 

Medical device parks are equipped with all such facilities in-house to reduce manufacturing process costs and should be ideally located in an area which is well connected with railways, roadways, waterways and airways along with presence of industrial corridors, port and harbour to also reduce logistical costs. Pharmabiz