- The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi approved the National Medical Devices Policy, 2023 in April 2023.
- With the new policy, the Center aims to reduce India’s import dependence by around 30 per cent in the next few years and become one of the top five global manufacturing hubs.
- The policy also aims to increase India’s per capita spending on medical equipment.
- The Indian Government has taken steps for National Medical Devices Policy to implement the PLI Scheme for medical devices and establish 4 Medical Devices Parks in Himachal Pradesh, Madhya Pradesh, Tamil Nadu and Uttar Pradesh.
- At present, 26 projects worth Rs 1206 crore have been approved under the scheme, with an investment of Rs 714 crore realized.
Key Features of NMD Policy 2023:-
- Regulatory Streamlining
- Enabling Infrastructure
- Facilitating R&D and Innovation
- Attracting Investments
- Human Resources Development
- Brand Positioning and Awareness Creation
