{"id":53043,"date":"2023-03-04T16:20:35","date_gmt":"2023-03-04T10:50:35","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=53043"},"modified":"2023-03-04T16:20:36","modified_gmt":"2023-03-04T10:50:36","slug":"upcoming-medical-device-park-in-india","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/upcoming-medical-device-park-in-india\/","title":{"rendered":"Upcoming Medical Device Park in India"},"content":{"rendered":"\n<p>With a motive to make a\nnew India, the Government has taken initiative to set up various Medical Device\nParks in India. Over the recent years the Government has recognized the market\nfor the Medical industry in India is expanding rapidly. Medical Device Parks\nare specially constructed to promote and encourage the medical facilities,\ninfrastructure, medical concoction and invention, development that are taking\nplace in the healthcare industry.&nbsp;In this article we shall understand\nabout the concepts and discuss about: Medical\nDevice Parks and its features, Advantages\nof setting of Medical device parks and budget\nrelating the schemes of Medical Park.&nbsp;<\/p>\n\n\n\n<p>The government has recognized\nthe potential growth of the <strong><a class=\"text-primary\" href=\"https:\/\/corpbiz.io\/medical-device-registration\">medical device<\/a><\/strong> industry in India. With\nthe initiative of<strong> \u201c<\/strong><strong>Make in India\u201d and \u201cAtma Nirbhar Bharat<\/strong><strong>&#8220;<\/strong> mission, the Central Government gave birth to the conception of\nMedical Device Parks in India. India&#8217;s largest Medical Device Park is located\nin the state of Telangana, Hyderabad, which spreads across 250-acre area of\nland and is the largest of its kind in India. The ecosystem of the designated\npark in India contributes in the development and manufacturing of home grown\nmedical devices and medical technology.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/upcoming-medical-device-park-in-india\/#Purpose_and_Features_of_Medical_Device_Parks\" >Purpose and Features\nof Medical Device Parks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/upcoming-medical-device-park-in-india\/#Budget_Relating_To_the_Construction_of_Medical_Device_Park_in_India\" >Budget Relating To the\nConstruction of Medical Device Park in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/upcoming-medical-device-park-in-india\/#Advantages_of_Setting_up_Of_Medical_Device_Park_in_India\" >Advantages of Setting\nup Of Medical Device Park in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/upcoming-medical-device-park-in-india\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Purpose_and_Features_of_Medical_Device_Parks\"><\/span>Purpose and Features\nof Medical Device Parks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Government of India\nhas taken various steps to spur production for domestic Pharmaceutical drugs\nand medical devices, made in India, to lessen our dependence on imported products.\nThe Central Government has launched various schemes and programs to encourage\nmore Pharma and medical device industries, some of which mentioned below:<\/p>\n\n\n\n<ol><li>The <strong>Production Linked Incentive (PLI)<\/strong><strong>\n     scheme<\/strong><sup><a class=\"text-primary\" href=\"https:\/\/en.wikipedia.org\/wiki\/Production_Linked_Incentive_schemes_in_India\"><strong>[1]<\/strong><\/a><\/sup> for the development of vital Key Starting Materials (KSM) or Drugs\n     Intermediate (DIs) and Active Pharmaceutical Ingredients (APIs) in\n     India outlined with the budget of Rs 6,940 crores for the FY 2020-2021 to\n     2029-2030. The scheme mainly helps to provide financial assistance to 41\n     identified medical products. Till now the department has received 51\n     applications under this scheme.<\/li><li>The Production Linked Incentive\n     Scheme is meant for Pharmaceuticals\n     drugs, with a total budget of Rs 15,000 crores for the financial\n     year 2020-2021 till FY 2028-2029. Under this scheme 55 approved applicants\n     will get financial benefit to manufacture identified products under\n     certain categories for a period of six (6) years including five (5)\n     industry experts who will be selected for the production of&nbsp;In-vitro\n     Diagnostic (IVD) medical devices.<\/li><li>The Scheme for Promotion of Bulk Drug Parks,\n     sanctioned for a budget of Rs 3,000 crores for the FY 2020-2021 till FY\n     2024-2025. This scheme will provide economical help to three states for\n     developing Bulk drug parks. The Department has received several\n     applications which are still under examination.<\/li><li>The Scheme of Strengthening of\n     Pharmaceutical Industry (SPI) was initiated for an economical\n     budget of Rs 500 crores for the financial year 2021-2022 till Financial\n     Year 2025-2026. This scheme was made to extend help for the infrastructure\n     development and Technology upgradation for the Pharma MSMEs.<\/li><li>The\n     Government has also introduced Schemes for the Promotion of Medical Device\n     Parks in India with a total budget of Rs 400 crores to be provided to four\n     states with Rs 100 crore each for its development.<\/li><li>Furthermore,\n     Government have also made some sub-scheme i.e., \u201cAssistant to Medical Industry for Common Facility Centre\u201d,\n     in order to provide a common facility for Superconducting Magnetic Coil\n     Testing and Research facility to Andhra Pradesh Medtech Zone Ltd. in the\n     state of Andhra Pradesh.<\/li><\/ol>\n\n\n\n<p>Therefore, we can say\nthat the Central Government has taken several initiatives to reduce the\ndependency on the imported medical products and start the use of domestic\nproducts that are indigenously made in India. With this move, the Department of\nPharmaceuticals, governed by the Ministry of Chemicals and Fertilizers have\ntaken initiative to launch for the Development of Medical Device Park and these\nparks aims at:<\/p>\n\n\n\n<ol><li>The\n     development of global common infrastructure with world-class facilities\n     under one pavilion will give access to Standard Testing procedure and\n     infrastructure facilities through these medical parks.<\/li><li>The main aim\n     behind the idea of the Government of setting up a Medical device Park in\n     India is to make India a global player in the international market with\n     world class medical infrastructure facility and showcase the upgradation\n     in Medical Technology.&nbsp;<\/li><li>To support\n     the \u2018Make in India\u2019 initiative, introduced by the government, it also\n     creates a powerful medium to promote and uplift the medical device\n     industry in India.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Budget_Relating_To_the_Construction_of_Medical_Device_Park_in_India\"><\/span>Budget Relating To the\nConstruction of Medical Device Park in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <strong>Ministry of\nChemicals and Fertilizers<\/strong> have launched the scheme of Medical Device Park\nin India. With the total financial budget of Rs 400 crores, the Department has\nenforced the scheme of <strong>\u201cPromotion\nof Medical Device Park in India<\/strong>\u201d, and the maximum support can be\nextended up to Rs 100 crore for the construction of one Medical Device Park.\nThe time period for this scheme will range from FY 2020-2021 to FY 2024-2025\nand this Medical Park project will be executed by the State Implementing Agency\n(SIA) under the governance of the Central Government. Upon the decision taken\nby the government, the common infrastructure facility that would be provided\nfor each Medical Device Park would be 70% of the project cost. However, in the\ncase of Hilly regions and North Eastern States the amount of money would be\nextended up to 90% of the project cost. The maximum limit provided by the\nGovernment for each Device Park would be limited to Rs 100 crores.<\/p>\n\n\n\n<p>There are four states in\nIndia namely, Uttar Pradesh, Tamil\nNadu, Madhya Pradesh and Himachal Pradesh that have been selected, after\nthe fulfillment of the eligibility criteria mentioned in the scheme guidelines\nto build the Medical Parks. These parks have received approval with the\nmonetary assistance of Rs 100 crore each for its construction. Out of the 16\nStates\/Union territories that have sent proposals to the Department of\nPharmaceuticals, these four States have received approval from the Government.\nNo more bids are being accepted under the scheme for the establishment of a\nMedical Device Park in the country.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_of_Setting_up_Of_Medical_Device_Park_in_India\"><\/span>Advantages of Setting\nup Of Medical Device Park in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol><li>It will\n     reduce the cost of production of medical devices and pharmaceutical drugs\n     and improve their availability and affordability in the domestic market.<\/li><li>To acquire\n     the benefits that surface from the optimum utilization of resources and\n     growth in the scale of medical device business.&nbsp;<\/li><li>The set-up\n     of Medical Device Park will encourage innovation and creation.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There has been a notable growth in the future of the medical device industry in recent years. Thus, it is noteworthy to say that development of Common Infrastructure Facility (CIF) in the Medical Device industry is the need of the hour which will facilitate Foreign Direct Investment (FDI) and private investment and help India to grow in the Global market in the field of Healthcare sector. The government has set up a committee and have ensured that there is speedy disbursal of the budgetary funds that is decided depending on the region in setting up of four Medical Device Park. The committee gave responsibility to Department of Pharmaceuticals to look after the\u00a0entire process towards the efficacious working of the development of the medical parks in India.<\/p>\n\n\n\n<p><strong>Also Read<\/strong>: <br><a href=\"https:\/\/corpbiz.io\/learning\/importance-of-a-medical-device-certificate-in-india\/\">What Is The Importance Of A Medical Device Certificate In India?<\/a><br><a href=\"https:\/\/corpbiz.io\/learning\/how-to-apply-for-medical-device-registration-in-australia\/\">How To Apply For Medical Device Registration In Australia?<\/a><br><a href=\"https:\/\/corpbiz.io\/learning\/registration-process-for-medical-devices-in-india\/\">A Step By Step Guide For Registration Process For Medical Devices In India<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With a motive to make a new India, the Government has taken initiative to set up various Medical Device Parks in India. Over the recent years the Government has recognized the market for the Medical industry in India is expanding rapidly. Medical Device Parks are specially constructed to promote and encourage the medical facilities, infrastructure, [&hellip;]<\/p>\n","protected":false},"author":55,"featured_media":53044,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[946],"tags":[3181],"acf":{"service_id":"385"},"authorName":"Soumyadipa Banik","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-66.jpg","authorDescription":"Soumyadipa is a legal professional and has completed her Masters (L.L.M.) in Business Law from Amity University. She is an aspiring content writer and legal researcher with more than a year experience. She have earlier worked for Startup companies and written business and legal articles, blogs and website content. She is good at presenting complex issues in organized, easy-to-understand terms and committed to provide highly persuasive content.","postViews":4919,"readingTime":5,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/53043"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=53043"}],"version-history":[{"count":2,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/53043\/revisions"}],"predecessor-version":[{"id":53046,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/53043\/revisions\/53046"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/53044"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=53043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=53043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=53043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}