Page 26 - Plastics News October 2021

FEATURE

Covid-19- Opportunities And Challenges Of Indian Medical Device Industry

The Indian Government with its Invest India spear initia- Rajiv Nath
tive has already chalked out plans to attract investment to M.D. - Hindustan Syringes
& Medical Devices Ltd.
make India a manufacturing hub for medical devices
n this large black cloud of Coronavirus specific devices detailed with quantified The Indian Government with Invest
Ithe only silver lining was the major production shortages and a focused India spear heading the initiative has
boost provided to Make in India of Inter-Ministry Group coordinating with already chalked out plans intending to
Medical Devices which has been a domestic manufacturers via AiMeD had remove all roadblocks and offer tailor-
neglected sector with import friendly addressed production bottlenecks and made solutions to attract investment
policies in past with negligible duties. challenges so that not only capacity got to make India a manufacturing hub for
Many businessmen in auto sector, utilized but also ramped up rapidly. medical devices.
garments, hospitality, tourism industry Indian Medical Device Manufacturing Covid-19 has changed the scenario of
diversified into medical devices industry is at the cusp of a great doing business. It has opened massive
considering depressing times for their opportunity. Manufacturing growth in opportunities for healthcare sector in tele-
own businesses and saw opportunity and China has been challenged by many consultation, AI-based diagnostics and
growth in devices. Countries resistance to buy Chinese remote healthcare management. India

The Government of India through its Medical Devices. Another opportunity has shown its capability of rapid product
flagship “Make in India” initiative relied is current Indian Public Procurement development during the #COVID19
heavily on the Indian manufacturers Policy. Due to geopolitical reasons global pandemic and it has a strong hold in the
to meet the rising demand of essential investors have begun to show renewed IT domain, we can build sophisticated
healthcare equipment’s for the country, interest in India. Our government has software products in the healthcare
pushing the Indian medical devices also seized the initiative and in a series domain. The govt. interventions helped
sector to become self-reliant. The of measures has reformed the country’s the medical devices industry scale up
Association of Indian Medical Device foreign investment policy to allow higher production during the pandemic. We
Industry (AiMeD) relentlessly worked levels of investment from abroad in enjoyed an unprecedented teamwork
at the forefront to combat the crisis. diverse sectors. As a result India has and rapid proactive communication from
COVID-19 crisis has shown that Indian become one of the most open economies NPPA who became a facilitator instead of
medical devices sector can rise to the in the world and rightly positioned to a Regulator & Dept. of Pharma, DPIIT,
challenge. When imports got disrupted, attract large-scale foreign investments. Invest India and MSME Ministry as they

26 PLASTICS NEWS OCTOBER 2021 27 PLASTICS NEWS OCTOBER 2021