Medical devices industry needs to focus more on local value addition: Pharma Secy
The government is also open to suggestions from the industry to address issues faced by companies that had made investments under PLI (production linked incentives) scheme for medical devices but could not claim incentives for any reason, in order to encourage local manufacturing in India, Joshi said while addressing CII Global MedTech Summit here.
In an address to the CII Global MedTech Summit, Manoj Joshi, Department of Pharmaceuticals Secretary, emphasized the need for the medical devices sector to focus more on local value addition and component manufacturing. The government is open to industry suggestions to help address issues faced by companies that invested under the PLI scheme for medical devices but did not receive incentives.
Joshi pointed out that while some components are produced in India, most factories are engaged in assembly line operations. The government aims to see more domestic value addition over time, with a target of 40-45 percent. Additionally, the government seeks to incentivize component makers more than assembly operations. Joshi highlighted the government's commitment to learn from the PLI scheme's experience and address the issue of companies not receiving incentives.
He also stressed the need for more product testing, both prototype and commercial, in the Indian medical devices system.
Written by urgent.news from ETHealthworld's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
