MedTech growing in India

December 30, 2020 4:42 pm

The Covid-19 pandemic circumstance was at first testing in India with a thick populace and exceptionally import subordinate Indian clinical gadgets area. Pushing the Indian clinical gadgets area to get confident or Atmanirbhar Bharat, the Government of India through its leader “Make in India” activity depended intensely on the Indian producers to satisfy the flooded need of fundamental medical care gear.

The Prime Minister’s call for Atmanirbhar Bharat (independent India), is the perfect advance for our homegrown assembling. A confident India would mean the nation diminishing its reliance on imports by zeroing in on ‘Make in India’. Independence implies reinforcing the nation’s serious force over the long haul. The normal advancement of any economy has been from a rural state to an industrialized country to additional turning into an administration overwhelmed country. Atmanirbhar Bharat can assist us with recovering the lost ground of industrialisation.

The manufacturers are not able to reach economies of scale as the manpower and electricity cost of manufacturing the components in the country is high. To decrease the input costs of manufacturing products, there is need for the Government to provide infrastructure and logistic support to enable manufacturers reduce the cost of inputs. The medical device industry also seeks tax incentives.

The imperative to change the prevalent circumstances requires a robust strategy, a stable policy environment and a well-advised comprehensive plan. The need of the hour for med-tech industry is to closely work in collaboration with policy makers to revive the provision of healthcare in the context of the economic, demographic and social transformations across the globe.

With a futuristic and collaborative approach, India will be poised to exponentially grow its medical devices sector to its full potential not only to improve standards of healthcare in India but also to emerge as a trusted partner to the world for healthcare transformation.

Lastly, the roadmap should focus on innovation and research & development as a strong pillar of building India’s best-in-class manufacturing ecosystem. I am sure India can emerge as a significant medical device manufacturer and become a factory for the World like the Pharma Industry.