22 September 2022 | News
The Chairman & Vice Chairman of the Council shall be elected from members who are manufacturers or processors of medical devices
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As a big boost to the Indian Medical Devices Manufacturing, the long sought and requested Medical Devices Exports Promotion Council (EPC) is finally sanctioned to be created under the aegis of Department of Pharmaceuticals (DoP), Govt. of India. This strategic step is expected to go a long way in accelerating the exports and manufacturing growth of the medical devices sector.
According to the government's notification, the EPC shall be established with headquarters at Yamuna Expressway Industrial Development Authority (YEIDA), Greater Noida and regional offices in Andhra Pradesh and Telangana.
For setting up the headquarters, YEIDA will provide an initial funding of Rs 3 crore. The regional office at Andhra Pradesh will be set up by 2023, while the Telangana office will be ready by 2025.
"The Exports Promotion Council for Medical Devices will help bring in coordinated inter-ministerial policy measures for unleashing the huge export potential and investment potential of over Rs 80,000 crore for manufacturing medical devices for the Global market in India’s quest to be one of Top 5 preferred supplier base of medical devices worldwide and we are thankful to the Minister of Commerce and Industry in taking this initiative to help realise our Prime Minister’s vision,” said Rajiv Nath, Forum Coordinator of Association of Indian Medical Device Industry (AiMeD).