In recent years, the Indian medical devices industry has seen significant growth in terms of both domestic consumption and exports. To support and further boost the growth of the medical devices industry in India, the government has established a separate export promotion council for medical devices. In this article we shall discuss about the Concept of Export Promotion Council, features of Export Promotion Council, advantages of setting up of such Council and the steps taken by the Indian Government to set up Export Promotion Council.
Definition of Export Promotion Council
An Export Promotion Council (EPC) is an organization that is set up by a government or industry association to promote and support the growth of exports from a country or region. The primary goal of an EPC is to help businesses expand their international trade by providing information, training, and support services.
A separate EPC can be beneficial because it allows for a focused approach to promoting exports. By having a separate organization dedicated solely to export promotion, the government or industry association can concentrate its efforts and resources on this specific goal. Additionally, a separate EPC can work closely with businesses to identify and address any barriers to exporting. This can include providing information on market conditions, regulatory requirements, and logistics, as well as assisting with financing and other forms of support.
The Export Promotion Council for Medical Devices (EPCMD) was set up in 2015 by the Ministry of Commerce and Industry, Government of India. The primary objective of EPCMD is to promote and facilitate exports of medical devices and related products from India. The council works in close collaboration with the Ministry of Health and Family Welfare, Ministry of Pharmaceuticals, and other stakeholders of the medical devices industry.
Functions of Export Promotion Council (EPC)
The main functions of EPCMD are as follows:
- To provide necessary guidance and assistance to exporters of medical devices and related products in India.
- To undertake promotional activities to create awareness about Indian medical devices in international markets.
- To provide information and intelligence to exporters on regulatory issues, technical standards, and other trade-related matters.
- To represent the interests of the Indian medical devices industry in international forums.
- To work with other stakeholders to address challenges faced by the industry, including issues related to manufacturing, quality standards, and trade barriers.
EPCMD has been actively engaged in promoting Indian medical devices in international markets. The council has organized various trade delegations, exhibitions, and buyer-seller meets to showcase the capabilities of the Indian medical devices industry. EPCMD has also been involved in organizing training programs and workshops for exporters on various aspects of international trade.
Below mentioned are some general steps that a government might take to set up an Export Promotion Council for Medical Devices (EPCMD):
- Identify The Need: The government may identify the need for an export promotion council for medical devices in order to boost exports of these products and increase their contribution to the country’s economy.
- Formulate A Plan: The government may formulate a plan for setting up the council, including its structure, membership, funding, and objectives.
- Consult With Stakeholders: The government may consult with stakeholders in the medical device industry, including manufacturers, exporters, and trade associations, to gather input and support for the council’s establishment.
- Need to Pass Legislation: The government may pass legislation or issue an executive order to formally establish the export promotion council and provide it with legal authority to carry out its mandate.
- Appoint Members: The government may appoint members to the council, including representatives from the government, industry, and other relevant sectors.
- Provide Funding: The government may provide funding for the council’s operations, including staff, facilities, and programs to promote exports of medical devices.
- Set Goals and Objectives: The government may set specific goals and objectives for the council, such as increasing exports of medical devices by a certain amount or expanding into new markets.
- Monitor and Evaluate Progress: The government may monitor and evaluate the export council’s progress in achieving its goals and objectives, and make adjustments as needed to ensure its effectiveness.
Benefits of Having Separate Export Promotion Council (EPC)
There are several advantages to having a separate export promotion council for medical devices:
- Focused Attention: A separate council for medical devices would allow for a more focused approach to promoting the export of medical devices. This means that the council would have a better understanding of the needs of the industry and be better equipped to promote the export of medical devices.
- Specific Expertise: A separate council would have specific expertise in the medical device industry. This would allow the council to better understand the nuances of the industry and be able to promote the export of medical devices more effectively.
- Better Coordination: A separate council would be able to coordinate with other organizations and government bodies more effectively. This would allow for a more cohesive approach to promoting the export of medical devices and ensure that all efforts are aligned towards the same goal.
- More Focused and Precise Policies: A separate council would be able to create policies that are specific to the medical device industry. This would allow for policies that are more targeted and effective in promoting the export of medical devices.
- Improved Competitiveness: A separate council would be able to identify and address the specific challenges faced by the medical device industry. This would lead to the development of strategies that improve the competitiveness of the industry, resulting in increased exports.
The Indian government has established the Export Promotion Council for Medical Devices (EPCMD) to promote the export of medical devices from India. Here are the steps that were taken to set up the EPCMD:
- The government of India recognized the potential of the medical device industry and the need to promote exports from India. Therefore, it formed a committee of experts to study the industry and suggest measures to promote exports.
- The committee recommended the formation of an export promotion council for medical devices, which would serve as a platform for the industry to come together and work towards promoting exports.
- Based on the committee’s recommendation, the Ministry of Commerce and Industry, Government of India, issued a notification in 2013, announcing the formation of the Export Promotion Council for Medical Devices (EPCMD).
- The EPCMD was registered under the Companies Act, 1956, as a not-for-profit company with the objective of promoting the export of medical devices from India.
- The EPCMD was set up with representatives from various stakeholders in the medical device industry, including manufacturers, exporters, importers, and industry associations. The council’s members are elected for a period of three years and work towards promoting the interests of the industry.
- The government provides support to the EPCMD in the form of financial assistance and other resources to help it achieve its objectives.
Overall, the formation of the EPCMD has been a significant step in promoting the export of medical devices from India, and it has helped the industry to grow and become more competitive globally.
The establishment of EPCMD is a significant step by the Indian government to promote and facilitate exports of medical devices from India. The council has been actively engaged in promoting Indian medical devices in international markets and providing necessary assistance to exporters. With the support of EPCMD, the Indian medical devices industry is expected to grow and become a significant player in the global market. Overall, a separate EPC can be an effective way to promote exports and support economic growth in a country or region. However, it is important to ensure that the EPC is properly funded and has a clear mandate to achieve its goals.
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