The medical devices sector has been receiving a lot of impetus for promoting its domestic manufacturing. For this, the government of India has released various schemes. Watch all the details on these schemes in #LawWiser video on MSME in the Medical Devices Sector with Neeraj Dubey, Partner, Juris Corp.
Neeraj takes us through these critical schemes that aim to develop and promote the medical devices sector and bring them on par with global standards. He begins with the Production Linked Incentive scheme that applies only to the Greenfield projects and intends to boost domestic manufacturing and attract large investments in the sector.
Other schemes that are relevant for the sector are:
Promotion of Medical Device Parks- The central government will finance the creation of common infrastructure facilities with a grant-in-aid to 4 medical device parks which will come up in 4 different States. By this, the Government aims to attract investment in the medical device sector and provide support to the capital expenditure of the manufacturers.
Public Procurement (Preference to Make in India) Order, this revised order issued by the DPIIT and revised guidelines issued by the Department of Pharmaceuticals aims to implement the provisions of the public procurement order relating to goods & services related to the Medical Device Sector.
Neeraj also shares insights on the Marketing Development Assistance scheme and much more. Tune in now to watch the full video for more such insights.