Centre notifies Rs 400 crore Scheme for “Promotion of Medical Device Parks” to support the medical devices industry

The government has notified the Scheme for “Promotion of Medical Device Parks” to significantly reduce manufacturing cost, optimize resources and provide easy access to standard testing and infrastructure facilities for the medical device industry. The total financial outlay of the scheme is Rs. 400 crores and the tenure of the scheme is five years, from FY 2020-2021 to FY 2024-2025.

The Medical Devices Parks to be developed under the scheme will provide common infrastructure facilities at one place thereby creating a robust ecosystem for the medical device manufacturing in the country and also reducing the manufacturing cost significantly.