Medical Device Manufacturers Demand Regulatory Clarity and Fiscal Incentives in India

During participating in the session on a “Make in India” initiative at a FICCI Heal in this year that is 2015 conference industry leaders called upon a government for the purpose of to take the very strong measures is to drive a consumption of the medical devices in a country. 

A demanded a government to bring the clarity to the regulatory policy and correct an inverted import structure and then give the fiscal incentives to provide a domestic manufacturing of the medical devices the very strong impetus for the growth.

The medical device makers had said that this could turn India to the global innovation hub for the medical technology. And convening a “Make in India” & the relevance to the healthcare session Mr. Varun Khanna, he is the managing director of BD India, said “ make in India” campaign have to be aligned along with the key government initiatives for the purpose of to make the very strong impact on the public health & give the safe medical care accessibility into all. Mr. Ajay Pitre, he is the Co Chair of the FICCI medical devices Forum and MD, the Pitre Business Ventures private limited during speaking at an event said from the net importer, this India will transform as itself to the provider of the cost effective medical tech solutions into an entire world, it is providing the enabling ecosystem put in a place by a government.

A delegates unanimously that a medical device industry poised to develop significantly in a coming year, which is due to a wide unmet requirement and also there is no longer sustainable for the purpose of to continue along with a present 80: 20 import to export ratio. Also, as per the release by an industry body, the FICCI they are called upon a government to focus on a following initiative to India to the powerhouse of the medical device manufacturing. At current market of the medical tech in this country is the insignificant fraction of a global market.

A government requires to facilitate the access 7 drive consumption by raising spending in the healthcare from the current one percentage of the GDP to minimum three percent. The regulatory clarity, an act separating the medical devices from the drugs requires to rapidly come to force. This must enforce the risk based classification. Fiscal Incentives, to make the global supply chain & manufacturing in this country, a government requires to give a fiscal benefit to the investors.

Pallavi Tiple writes news on industry, businesses, technologies, media, and current affairs and also produces the content on daily basis regarding latest trends, markets, promotions, and events for Medical Device News. She enjoys reading and painting in her leisure time. She can be reached at pallavi@medicaldevicenews.net