The Union Ministry of Commerce announced the formation of an export promotion council for medical devices.
According to the office memorandum, the medical devices export promotion council will report to the department of pharmaceuticals. Its headquarters will be in Noida, with offices in Andhra Pradesh and Telangana. Exporters will benefit from the council’s assistance in promoting their products in international markets.
Rajiv Nath, Forum Coordinator of Association of Indian Medical Device Industry (AiMeD) said: “It’s a great news, a big boost to Indian Medical Devices Manufacturing. The long sought and requested Medical Devices Exports Promotion Council is finally sanctioned to be created under the aegis of DoP, Govt. of India. This strategic step will go a long way in accelerating the exports and manufacturing growth of the medical devices sector.”
India currently exports medical devices worth Rs. 23,766 crore (2021-22), up from Rs 19,736 crore in 2021.
The Exports Promotion Council for Medical Devices, according to Nath, will help bring in coordinated inter-ministerial policy measures to unleash the huge export potential and investment potential of over Rs. 80,000 Cr for manufacturing medical devices for the global market in India’s quest to be one of the Top 5 preferred supplier base of medical devices worldwide.
