05 June 2017 | News
They emphasised on wider adoption of the medical devices which are developed in India is a necessary prerequisite in order for us to leverage the ‘Make in India’ initiative
MTaI in a press conference recently held in New Delhi addressed the need for creating an ecosystem that fully supports technology in MedTech, from the perspectives of engineering design, human application, clinical validation and delivering the product in the hospital setting.
They also emphasised on wider adoption of the medical devices which are developed in India is a necessary prerequisite in order for us to leverage the ‘Make in India’ initiative.
Pavan Choudary, Director General, MTaI said, “The Government needs to recognize that the MedTech sector is capital intensive with a long gestation period requiring continual infusion of technology and accordingly take a nuanced approach in its policy-making mechanisms. Given that the global medical device industry has the technology legacy, the spectrum of understanding, and strong manufacturing footprint in India, it should be included in the ‘Make in India’ policy-drawing-board.”
Varun Khanna, Director, MTaI said, “Three issues need to be immediately addressed to generate interest and actions on ‘Make in India’. First, we need globally harmonized regulatory policies providing safe and effective products for patients in India and abroad. Beyond product regulatory policy, policies around investments, infrastructure, research and development add to the appeal of manufacturing in India. Secondly, companies need to gain financial viability for making in India through various tax waivers or incentives. And thirdly, we need more impetus on healthcare infrastructure.”
Probir Das, Board Member, MTaI, said, “Often, we compare ourselves with China on a number of matters. India has around 70% of medical devices imported. Currently, China which is around 10-times bigger in the medical device market in comparison to India, also imports around 70% of its medical devices consumption. It is important to create enough infrastructure and skills as we take the worthy idea of ‘Make in India’ forward.”